Date announced for Spring Budget 2017
Hot on the heels of the recent Autumn Statement, the Chancellor has announced that the Spring Budget will be held on Wednesday, 8 March 2017.
This will be the last Spring Budget to take place following the government’s decision to switch to an Autumn Budget and a Spring Statement. The Spring Budget is also very likely to be the last Budget to take place before the UK begins the formal Brexit negotiation process. The Prime Minister has said that she expects this process to be started by the end of March 2017.
In order to commence the new schedule we will also have the unusual scenario of two Budget dates in 2017 with a second Budget taking place in Autumn 2017. The Budget cycle will then continue annually from autumn 2018. Each spring, also starting in 2018 there will be a Spring Statement. The government will retain the option to make changes to fiscal policy at the Spring Statement if the economic circumstances require it.
Details of all the Budget announcements will be made on a special section of the GOV.UK website which will be updated following completion of the Chancellor’s speech next March.