Autumn Statement 2016
In what was his first and last Autumn Statement, Mr Hammond set out the Government's plans to - as he reminded us several times during his speech - build an economy that works for everyone.
We knew that this would need to involve a fine balancing act, one which does not disturb what is currently a relatively strong economic environment but which plans for a time of uncertainty and a higher than expected deficit ahead.
Overall he seems to have achieved this by immediately borrowing more to fund targeted longer term investments in infrastructure and innovation, while avoiding surprise tax announcements that would dampen confidence. Tax receipts have seen a recent spike but have generally reduced over the last year and the announcements made are certainly designed to reverse this decline. However the majority of changes were already known about. Mr Hammond has left himself plenty of scope to make more significant announcements in what will also be his last Spring Budget in March 2017.
Our in-depth analysis is here to help you with the detail of the taxation announcements made.
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