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Chancellor Philip Hammond reveals date of first autumn Budget

Replacing two annual statements, the Chancellor has vowed not to "make significant changes twice a year just for the sake of it".

By Aubrey Allegretti, Political Reporter

Tuesday 12 September 2017 18:31, UK

Chancellor of the Exchequer Philip Hammond holds the budget box up to the media as he leaves 11 Downing Street on March 8, 2017 in London, England
Image: Philip Hammond will reveal his tax and spending plans on November 22
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Chancellor Philip Hammond has set 22 November as the date for his newly created autumn Budget.

In a video message posted on Twitter, Mr Hammond confirmed the timing of the historic speech he will use to set out the Government's tax and spending plans.

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He hailed it as an opportunity to "set out our thinking on how to keep the economy strong and resilient and fair - an economy that works for everyone".

It will be the first budget of its kind, after Mr Hammond used his inaugural Autumn Statement last year to scrap both the traditional speech and the spring Budget.

"No other major economy makes hundreds of tax changes twice a year and neither should we," he announced at the time.

LONDON, ENGLAND - NOVEMBER 23: Chancellor of the Exchequer, Philip Hammond leaves 11 Downing Street on November 23, 2016 in London, England.The Autumn Statement is one of two budget statements the Treasury makes to Parliament each year. Britain's public finances improved this October from the same month last year, although the Chancellor will still miss his deficit target of 脗拢55.5bn by the end of the year (Photo by Leon Neal/Getty Images)
Image: 2016's Autumn Statement was Hammond's first and last

"I will not make significant changes twice a year just for the sake of it."

It will also be the Conservatives' first Budget since Prime Minister Theresa May's election gamble backfired, depriving the Tories of a majority.

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