The UK’s Chancellor of the Exchequer, Philip Hammond, has today delivered his Spring Statement. Less formal or broad in scope than the Budget, which moved to the Autumn last year, this is not about announcements on tax or spending, but more about economic forecasts.
The Chancellor himself describes this as a ‘non event’ from a financial point of view but since 1975, the government has been legally obliged to produce its projections for the economy and the public finances twice a year. That’s why have a main budget and this lower key announcement.
The question for expats, as ever, is how does it affect us?