Why will this week's Budget be the last to be held in the spring?



2017-03-05T19:59:09.488Z
2017-03-05T22:06:14.332Z

Gladstone's Red Box. The National Archives UK

Why is the UK's budget not going to be held in spring any more?

2017 will be the last time the UK's Budget is held in the spring. Chancellor of the Exchequer Philip Hammond announced in his Autumn Statement in 2016 that he was changing the order of his two set piece speeches. He said: "This is my first Autumn Statement as Chancellor. After careful consideration, and detailed discussion with the Prime Minister, I have decided that it will also be my last.... I am abolishing the Autumn Statement... No other major economy makes hundreds of tax changes twice a year and neither should we. So the spring Budget in a few months will be the final spring Budget."

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