"Autumn", according to the late French philosopher
Albert Camus "is a second Spring when every leaf is a
flower".
The Autumn Statement is one of two statements H.M. Treasury has
to make in response to the independent economic and fiscal forecast
that the Office for Budget Responsibility provides every year.
Since the 1990s, it has become customary for Chancellors of the
Exchequer to combine their autumn response with tax and spending
announcements. The result is that we have become accustomed to a
second major fiscal event after the Budget each year.
The Chancellor, Philip Hammond, announced today "I am
abolishing the Autumn Statement". It is the Government's
intention, following the Spring 2017 Budget, to move the Budget to
autumn each year. From Spring 2018 the Spring Budget will be
replaced by the Spring Statement and Autumn Statement will be
replaced by the Autumn Budget.
