The UK was the only major economy to make hundreds of tax and spending changes twice a year. And major international organisations and UK professional bodies alike have been pressing for change.
In 2016 I took the decision to move to a single fiscal event in the Autumn. Giving greater certainty to families and businesses ahead of the new financial year. And allowing more time for stakeholder and parliamentary engagement on potential fiscal changes.
Today’s statement will update the House on the economic and fiscal position. Report progress on announcements made at the two budgets last year. And launch further consultations ahead of Budget 2018, as set out today in my Written Ministerial Statement. I won’t be producing a Red Book today Mr Speaker.
Mr Speaker. I am pleased today to report to the House on a UK economy that has grown in every year since 2010. And under Conservative Leadership now has a manufacturing sector enjoying its longest unbroken run of growth for fifty years.
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