Spring Budget 2019

What should you take away from this year’s Chancellor’s announcement?

Spring Statement 2019

Set against continuing uncertainty over Brexit and just hours before MPs were due to vote on whether to exit the EU without a deal, Mr Hammond devoted much of his speech to the possible effects that leaving the European Union could have on the UK’s finances.

Philip Hammond, the Chancellor of the Exchequer, delivered his Spring Statement 2019 to Parliament on 13 March.

The Chancellor announced that the UK economy continues to grow, with wages increasing and unemployment at historic lows, providing a solid foundation on which to build Britain’s economic future. With borrowing and debt both forecast to be lower in every year than at last year’s Budget, the Chancellor set out further investments in infrastructure, technology, housing, skills and clean growth, so that the UK can capitalise on the post-EU exit opportunities that lie ahead.

The Chancellor also confirmed that the government will hold a Spending Review which will conclude alongside the Budget. This will set departmental budgets, including three-year budgets for resource spending, if an EU exit deal is agreed. Ahead of that, the Chancellor announced extra funding to tackle serious violence and knife crime, with £100 million available to police forces in the worst affected areas in England and Wales.

Spring Budget 2019: Key Announcements
Spring Budget 2019:
Key Announcements

The Spring Statement is an opportunity for the Chancellor to provide an update on the overall health of the economy and the… Read More »

Spring Budget 2019: Deal Dividend
Spring Budget 2019:
Deal Dividend

The Chancellor of the Exchequer, Philip Hammond, has promised more spending if a no-deal Brexit is avoided and pledged to spend… Read More »

Spring Budget 2019: Fixing the broken housing market
Spring Budget 2019:
Fixing the broken housing market

The Chancellor said the government is determined to fix the broken housing market. Building more homes in the right places is critical… Read More »

Spring Budget 2019: Building a stronger, fairer economy
Spring Budget 2019:
Building a stronger, fairer economy

The Chancellor announced that the government’s efforts to build a stronger, fairer economy are paying off. He said the economy remains resilient… Read More »

New science and technologies economy
Spring Budget 2019:
New science and technologies economy

Budget 2018 included significant additional support for cutting-edge science and technologies that will transform the economy, create… Read More »

UK open for business and international visitors
Spring Budget 2019:
UK open for business and international visitors

Landing cards will begin to be abolished from June 2019. This will reduce bureaucracy for travellers and speed up the processing of passengers… Read More »

Public finances reach a turning point
Spring Budget 2019:
Public finances reach a turning point

Mr Hammond announced that due to the government’s fiscal responsibility and the hard work of the British public, the public finances… Read More »

Investment in energy efficiency and clean growth
Spring Budget 2019:
Investment in energy efficiency and clean growth

Mr Hammond announced that due to the government’s fiscal responsibility and the hard work of the British public, the public finances… Read More »

Employers' co-investment rate cut by a half
Spring Budget 2019:
Employers’ co-investment rate cut by a half

Mr Hammond announced updates to apprenticeship reforms announced at Budget which mean that, from 1 April, employers will see the co-investment rate… Read More »

Spending Review to conclude alongside the Budget
Spring Budget 2019:
Spending Review to conclude alongside the Budget

The Chancellor also confirmed that the government will hold a Spending Review which will conclude alongside the Budget… Read More »

Tackling violent crime
Spring Budget 2019:
Tackling violent crime

A further £100 million funding will be made available to police forces in the worst affected areas in England and Wales for knife and violent crime… Read More »

 

Keeping your financial plans on track

In our ‘Guide to Spring Statement 2019’ we reveal the key announcements made by the Chancellor.

If you would like to review what action you may need to take to keep you, your family and your business on track – or if you have any further questions – please Mercier Allen. We look forward to hearing from you.

To download the full guide please click here.

The content of this Spring Statement 2019 summary was produced on 13 March 2019 and is for your general information and use only and is not intended to address your particular requirements. The content should not be relied upon in its entirety and shall not be deemed to be, or constitute, advice. Although endeavours have been made to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of the content. Thresholds, percentage rates and tax legislation may change in subsequent Finance Acts. Levels and bases of, and reliefs from, taxation are subject to change and their value depends on an individual’s personal circumstances.