Spring Statement 2018 live news: Chancellor Philip Hammond to deliver speech on UK debt

Chancellor Philip Hammond is set to say “there is light at the end of the tunnel” as he unveils his first Spring Statement.

Mr Hammond will today provide the economic and public finance forecasts from the Office of Budget Responsibility.

The Chancellor is expected to tell MPs that the UK is benefiting from two years of austerity.

He will say measures have led to an expected drop in borrowing, higher-than-predicted GDP growth of 1.7 per cent for 2017 and the recent elimination of the Government’s deficit on day-to-day spending. 

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When is the Statement?

Mr Hammond will address the House of Commons shortly after MPs have completed other questions on the agenda.

His speech will most likely begin at 12.30pm and last less than half hour.

The entire debate is expected to last about two hours.


What to expect from Philip Hammond’s Spring Statement

Chancellor Philip Hammond is poised to deliver his first so-called Spring Statement this week. 

On Tuesday, we will see the first Spring Statement, a low-key affair in which the Chancellor will provide the economic and public finance forecasts from the Office of Budget Responsibility. 


Spring Statement

Philip Hammond will today deliver his speech on the state of UK debt.

He is set to reassure voters that there is “light at the end of the tunnel”.

Read the full story here.

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