Philip Hammond has announced the date for the Autumn Statement: 23 November 2016.
In the past, Chancellors have used the occasion to set the scene for the following years’ budgets. This year, Philip Hammond will be disclosing the fiscal direction of the new Conservative government. Are we to have evermore “austerity”, cuts in government expenditure, or will the Treasury abandon its commitment to reducing debt and balancing UK’s books?
No doubt the economic effects of Brexit will weigh heavily on the argument: can we afford to suppress economic activity if we are facing the loss of the EU single market?
All eyes will be on Philip Hammond as he rises to speak on the 23rd. A lot hangs on what he says.