Autumn Statement

Written by Linda Digby 25 Nov 2016
Autumn Statement

Denis Healey delivered the first version of the Autumn Statement In 1975 and made it a duty for the Government to publish two economic updates a year. On Wednesday the Chancellor of the Exchequer said, ‘I am abolishing the Autumn Statement’. The Budget which happens in the spring will in future be the only update to the country on UK economic situations. Wednesday’s Autumn Statement on taxation and spending plans was based on updated independent economic forecasts and projections by the Office for Budget Responsibility (OBR). We can pray for our nation to be blessed and not cursed by these projections, that we lend and not borrow, create wealth and steward wealth wisely. We can pray also for Philip Hammond, civil servants and all working at the Treasury, for this year’s economic projections, departmental spending allocations and Budget taxation plans to be wisely and successfully implemented and not blurred.

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