Rolling coverage of Chancellor Philip Hammond’s spring statement at 12.30pm, including the latest growth and borrowing forecasts for the UK
- Introduction: Hammond to unveil new forecasts
- No major tax and spending changes today
- Consultations on plastic waste, AI and tax reform
- Five things to watch for
Overnight, John McDonnell MP, Labour’s Shadow Chancellor, has challenged Philip Hammond to end the ‘misery’ caused by the government’s austerity programme.
“Today the Chancellor has a choice. He can choose to act and end the misery faced by many, or he can do nothing and continue to favour a privilege a few.
“Our public services are at breaking point and many of our local councils are near bankruptcy. He needs to listen to the calls from across the political spectrum, including the Tory council leader in his own constituency – to end the financial crisis in our public sector.