Chancellor Philip Hammond has delivered his Spring
Statement 2018, and on his promise to move away
from two major fiscal announcements every year. 

There was no red briefcase, no red book, and no
tax changes as the chancellor announced updated
economic forecasts in a speech lasting less than
half the length of any of his previous statements. 

Not that it comes as a surprise seeing that
Hammond moved this to a Tuesday, rather than
keeping it in its usual slot straight after prime
minister’s questions on a Wednesday. 

Far from being a second financial statement of the
tax year, the chancellor unveiled the latest economic
forecasts alongside a raft of consultations.