Financial Statement Highlights
Yesterday Philip Hammond took centre stage for the 2018 Spring Statement. This statement
was not intended to deliver the any drastic changes to legislation; it is used as more of an
Economic update and outlook.
Some of the key highlights have been outlined below:
- Growth forecasts were revised from 1.4% up to 1.5% in 2017-18.
- Falling inflation forecasts from 3% to 2% by the end of 2018.
- Over the next five years, wages are expected to rise faster than average prices.
- £1.5bn already allocated for Brexit
- £1.67bn to build more affordable homes in London by 2022.
- National Living Wage to rise to £7.83p/h
- Borrowing forecast to be lower than predicted at £45.2bn
- Borrowing to fall continuously to 2022 to £21.4bn
If you would like any further information on the above, please do not hesitate to contact your