At approximately 12.30pm today (13 March), Chancellor Philip Hammond is to deliver the government’s first Spring Statement to the House of Commons.
The attention today will focus on the latest forecasts for the economy and the public finances provided by the government’s independent forecaster.
According to The Guardian, these are the five key topics to look out for in the Chancellor’s upcoming Spring Statement:
- Economic growth. It is expected that Hammond will say that the outlook for growth is marginally better than it was three months ago.
- Productivity. The statement is expected to provide positive news about productivity. This affects an overall productivity boost and an improvement of the economic output per hour.
- Government borrowing. It is expected that Hammond will say the government will not need to borrow to cover its day-to-day spending this year – the first time this has happened since the financial crisis.
- National debt. Hammond is expected to use the high level of national debt to say that Britain is still in the tunnel.
- Consultations. It is likely that Hammond is to announce a series of consultations in areas where future action is possible.
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