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All eyes on the new Chancellor this autumn - news article image

All eyes on the new Chancellor this autumn

18 Aug 2016

1 minute read

The dramatic events of the summer, which saw both the Prime Minister and the Chancellor leave office swiftly after the country voted to leave the European Union, suggest that this year’s Autumn Statement could be a very significant political and economic event.

Soon after taking up his post, the new Chancellor Philip Hammond ruled out the ‘emergency Brexit Budget’ threatened by his predecessor George Osborne during the referendum campaign, but hinted that under the leadership of Theresa May the Government might take a new approach to fiscal policy, including easing ‘austerity’ and abandoning the goal of reaching a surplus by 2020.

The Autumn Statement is likely to be the first opportunity for Mr Hammond to introduce new fiscal and tax measures and to indicate the direction the new Government will take in the light of the Brexit negotiations. As recent months bear testament, in politics a great deal can change very quickly, but we will be keeping up-to-date with the latest announcements.

All eyes on the new Chancellor this autumn - news article image

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