This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-politics-42069508
The article has changed 15 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| Budget aim to help UK 'seize opportunities' from Brexit | |
| (about 1 hour later) | |
| The UK must "seize the opportunities" from Brexit while tackling deep-seated economic challenges "head on", Philip Hammond is to say in his second Budget. | The UK must "seize the opportunities" from Brexit while tackling deep-seated economic challenges "head on", Philip Hammond is to say in his second Budget. |
| The chancellor will promise investment to make Britain "fit for the future" as an "outward looking, free-trading nation" once it leaves the EU in 2019. | The chancellor will promise investment to make Britain "fit for the future" as an "outward looking, free-trading nation" once it leaves the EU in 2019. |
| But he will also commit to supporting hard-pressed families with the cost of living and address housing shortages. | But he will also commit to supporting hard-pressed families with the cost of living and address housing shortages. |
| Labour say he should call time on austerity and boost public services. | Labour say he should call time on austerity and boost public services. |
| In his Commons speech, which will begin at about 12:30 GMT, Mr Hammond will set out proposed tax and spending changes. | In his Commons speech, which will begin at about 12:30 GMT, Mr Hammond will set out proposed tax and spending changes. |
| He will also update MPs on the current state of the economy, future growth projections and the health of the public finances. | He will also update MPs on the current state of the economy, future growth projections and the health of the public finances. |
| He has been under pressure in recent months from sections of his party who argue that he is too pessimistic about the UK's prospects when it leaves the EU. | He has been under pressure in recent months from sections of his party who argue that he is too pessimistic about the UK's prospects when it leaves the EU. |
| In response, he will set out his vision for the UK after Brexit as a "prosperous and inclusive economy" which harnesses the power of technological change and innovation to be a "force for good in the world". | In response, he will set out his vision for the UK after Brexit as a "prosperous and inclusive economy" which harnesses the power of technological change and innovation to be a "force for good in the world". |
| What will be in the Budget? | What will be in the Budget? |
| Unlike past years, few announcements have been briefed out in advance of the big day. | Unlike past years, few announcements have been briefed out in advance of the big day. |
| But the chancellor is expected to announce more money for teacher training in England and extra cash to boost the numbers of students taking maths after the age of 16. | But the chancellor is expected to announce more money for teacher training in England and extra cash to boost the numbers of students taking maths after the age of 16. |
| He has signalled he wants to speed up permitted housing developments and give more help to small builders. | He has signalled he wants to speed up permitted housing developments and give more help to small builders. |
| In a nod to younger voters, discounted rail cards will be extended. | In a nod to younger voters, discounted rail cards will be extended. |
| An extra £2.3bn for research and development and £1.7bn for transport links are designed to address the UK's lagging productivity. | An extra £2.3bn for research and development and £1.7bn for transport links are designed to address the UK's lagging productivity. |
| Extra money is also expected to be found for new charge points for electric cars and for the next generation of 5G mobile networks. | Extra money is also expected to be found for new charge points for electric cars and for the next generation of 5G mobile networks. |
| Expect the theme of innovation to ring through the speech, with Mr Hammond hailing the UK as being "at the forefront of a technological revolution". | Expect the theme of innovation to ring through the speech, with Mr Hammond hailing the UK as being "at the forefront of a technological revolution". |
| Will it be a 'bold' or 'boring' Budget? | Will it be a 'bold' or 'boring' Budget? |
| The image Mr Hammond has cultivated as a safe, unflashy pair of hands in uncertain times - hence his ironic "box office Phil" nickname - was dented in the March Budget when he had to backtrack on plans to hike National Insurance for the self-employed. | The image Mr Hammond has cultivated as a safe, unflashy pair of hands in uncertain times - hence his ironic "box office Phil" nickname - was dented in the March Budget when he had to backtrack on plans to hike National Insurance for the self-employed. |
| Asked on Sunday whether this would be a bold or boring Budget, he settled for describing it as "balanced". | Asked on Sunday whether this would be a bold or boring Budget, he settled for describing it as "balanced". |
| While some Tory MPs would prefer a safety-first approach with no controversy, others want him to turbo-charge efforts to prepare the UK for life after Brexit. | While some Tory MPs would prefer a safety-first approach with no controversy, others want him to turbo-charge efforts to prepare the UK for life after Brexit. |
| Most hope he will begin to address issues perceived to have hurt the Tories at the election, such as the financial pressures on public sector workers and young people. | Most hope he will begin to address issues perceived to have hurt the Tories at the election, such as the financial pressures on public sector workers and young people. |
| In remarks released ahead of the speech, Mr Hammond strikes an upbeat tone, saying he will use the Budget to "look forwards, embrace change, meet our challenges head on and seize the opportunities for Britain". | In remarks released ahead of the speech, Mr Hammond strikes an upbeat tone, saying he will use the Budget to "look forwards, embrace change, meet our challenges head on and seize the opportunities for Britain". |
| Isn't the Budget normally in Spring? | Isn't the Budget normally in Spring? |
| Yes, that's the way it's been for the last twenty years. The last one was in March and normally there wouldn't be another one until Spring 2018. | Yes, that's the way it's been for the last twenty years. The last one was in March and normally there wouldn't be another one until Spring 2018. |
| But Mr Hammond thinks late autumn is a more suitable time for tax and spending changes to be announced and scrutinised before the start of the tax year in April. So from now on, Budgets will take place in November. | But Mr Hammond thinks late autumn is a more suitable time for tax and spending changes to be announced and scrutinised before the start of the tax year in April. So from now on, Budgets will take place in November. |
| But aside from the timing, the choreography of Budget day will remain the same. | But aside from the timing, the choreography of Budget day will remain the same. |
| Mr Hammond will be photographed in Downing Street holding the famous red ministerial box - used to carry the statement - aloft before making the short journey to the Commons. | Mr Hammond will be photographed in Downing Street holding the famous red ministerial box - used to carry the statement - aloft before making the short journey to the Commons. |
| While tradition dictates he can take a swig of his chosen tipple during his speech, Mr Hammond is expected to eschew anything too strong and confine himself to water during what is normally an hour-long statement. | While tradition dictates he can take a swig of his chosen tipple during his speech, Mr Hammond is expected to eschew anything too strong and confine himself to water during what is normally an hour-long statement. |
| Follow it on the BBC | |
| What's happened since the last Budget? | What's happened since the last Budget? |
| Quite a lot. In the last nine months, the UK has triggered Brexit and begun negotiations on the terms of its departure from the EU. | Quite a lot. In the last nine months, the UK has triggered Brexit and begun negotiations on the terms of its departure from the EU. |
| Economic conditions have changed too, although there is fierce debate about how much of this is attributable to uncertainty and negativity over Brexit. | Economic conditions have changed too, although there is fierce debate about how much of this is attributable to uncertainty and negativity over Brexit. |
| Inflation has risen to 3%, its highest level in five years, while growth has faltered a little. | Inflation has risen to 3%, its highest level in five years, while growth has faltered a little. |
| However, borrowing levels are at a 10-year low, giving Mr Hammond more flexibility, while employment remains at record levels. | However, borrowing levels are at a 10-year low, giving Mr Hammond more flexibility, while employment remains at record levels. |
| The political backdrop has also changed enormously. | The political backdrop has also changed enormously. |
| The loss of their majority in June's election sparked fresh Brexit infighting within the Conservatives. | The loss of their majority in June's election sparked fresh Brexit infighting within the Conservatives. |
| The government has the backing of the DUP, but Mr Hammond - who is distrusted by many on the right of the party - does not have unlimited political capital in the bank. | The government has the backing of the DUP, but Mr Hammond - who is distrusted by many on the right of the party - does not have unlimited political capital in the bank. |
| What sort of advice is he getting? | |
| Free market think tank the Adam Smith Institute is among campaigners urging an end to stamp duty for first-time buyers. | Free market think tank the Adam Smith Institute is among campaigners urging an end to stamp duty for first-time buyers. |
| Lib Dem leader Vince Cable says housing and the NHS should be the priorities. | Lib Dem leader Vince Cable says housing and the NHS should be the priorities. |
| And Shadow Chancellor John McDonnell wants immediate action to reduce inequality. | And Shadow Chancellor John McDonnell wants immediate action to reduce inequality. |
| What the BBC's editors say | |
| Political editor Laura Kuenssberg: "Do not mess up. The Treasury will be happy if this is seen as a boring Budget with no mess-ups." | |
| Business editor Simon Jack: "A lot of businesses are worried that Brexit will crowd out all other domestic considerations." | |
| Economics editor Kamal Ahmed: "The big problem here is will people feel that they're going to be better off when Philip Hammond sits down after his Budget, that is very unlikely. Unless he can change that fact that those real incomes are falling, he won't have passed that key test of an economy working for everyone." | |
| What do you want to see in today's budget? Are you satisfied with the measures announced so far? Share your views by emailing haveyoursay@bbc.co.uk | What do you want to see in today's budget? Are you satisfied with the measures announced so far? Share your views by emailing haveyoursay@bbc.co.uk |
| Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: | Please include a contact number if you are willing to speak to a BBC journalist. You can also contact us in the following ways: |
| Or use the form below | Or use the form below |