Spring Statement 2018: Main points so far . . .

March 13, 2018

Key points from today’s Spring Statement:

  • Next spending review will take place in 2019
  • UK economy grew by 1.7% in 2017
  • OBR has increased forecast for growth next year but downgraded those for 2021 and 2022 
  • Investment programme of £44bn to raise housing supply to 300,000 a year by the mid-2020s.
  • Extra £1.7bn to build 26,000 affordable homes in London
  • Doubling of housing growth partnership with Lloyd Bank to £220m to help small housebuilders
  • Call for evidence on single-use plastics, including the supply chain, alternatives and recycling opportunities
  • Next business rates revaluation to 2021
  • Government will examine ways to help small businesses deal with late payments which he describes as a “scourge”
  • Chief secretary is publishing the departmental allocations of over £1.5bn of Brexit preparation funding for 2018/19.

This article will be updated shortly . . .

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