Martin Gilbert: More long-term thinking needed from Spring Statement

Significant changes unlikely

clock • 3 min read

It is that time of the year again - or is it? Today, Chancellor Philip Hammond will get to his feet in the House of Commons at 12.30pm to deliver his Spring Statement, not the 2018 Budget.

It will certainly be different, not least as it is expected to last no longer than 20 minutes, a good half hour shorter than his March 2017 Budget speech. The Chancellor announced this change to the parliamentary calendar back in 2016. At the time, he pointed out moving the main Budget from March to November would align it better with other countries. Investors given a week-long extension to benefit from lower-risk EIS He commented: "No other major economy makes hundreds of tax changes twice a year, and neither should we. If unexpected changes in the economy require it, then I will...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on UK

Gorton & Denton isn't a swing, it's a re-wiring – here's why it changes the planning landscape
UK

Gorton & Denton isn't a swing, it's a re-wiring – here's why it changes the planning landscape

By-election impact reverberates beyond Westminster

Phillip Wickenden
clock 27 February 2026 • 5 min read
Spring Statement: What to expect from chancellor Rachel Reeves' speech
UK

Spring Statement: What to expect from chancellor Rachel Reeves' speech

To take place on 3 March

Alex Sebastian
clock 27 February 2026 • 4 min read
UK headroom 'fixation' undermining fiscal rules 'credibility'
UK

UK headroom 'fixation' undermining fiscal rules 'credibility'

Institute for Fiscal Studies finds

Cristian Angeloni
clock 20 February 2026 • 2 min read