Philip Hammond is facing calls to dial back the autumn statement and return instead to a single budget speech each year. Over the years, the autumn statement morphed into the summer statement, before Gordon Brown introduced the pre-budget report – a decision reversed by Osborne. Photograph: Xinhua / Barcroft ImagesHammond is due to deliver his first autumn statement in seven weeks, on 23 November. Facebook Twitter Pinterest Philip Hammond’s predecessor, George Osborne, had to U-turn on pasty taxes and tax cut credits in March after introducing policy plans the previous autumn. The foundation sees links between that poor productivity performance and the make-up of the UK economy.

Source: The Guardian October 02, 2016 23:01 UTC