Financial Statement Highlights
Yesterday Philip Hammond took centre stage for the 2018 Spring Statement. This statement
was not intended to deliver the any drastic changes to legislation; it is used as more of an
Economic update and outlook.
Some of the key highlights have been outlined below:
Economic
- Growth forecasts were revised from 1.4% up to 1.5% in 2017-18.
- Falling inflation forecasts from 3% to 2% by the end of 2018.
- Over the next five years, wages are expected to rise faster than average prices.
Spending
- £1.5bn already allocated for Brexit
- £1.67bn to build more affordable homes in London by 2022.
- National Living Wage to rise to £7.83p/h
Public Finances
- Borrowing forecast to be lower than predicted at £45.2bn
- Borrowing to fall continuously to 2022 to £21.4bn
If you would like any further information on the above, please do not hesitate to contact your
adviser
Ascot Wealth Management Limited is authorised and regulated by the Financial Conduct Authority reference 551744. Our registered office: Scotch Corner, London Road, Sunningdale, Ascot, Berkshire, SL5 0ER. Registered in England No. 7428363. www.old.ascotwm.com Unless otherwise stated, the information in this document was valid on 3rd February 2017. Not all the services and investments described are regulated by the Financial Conduct Authority (FCA). Tax, trust and company administration services are not authorised and regulated by the Financial Conduct Authority. The services described may not be suitable for all and you should seek appropriate advice. This document is not intended as an offer or solicitation for the purpose or sale of any financial instrument by Ascot Wealth Management Limited. The information and opinions expressed herein are considered valid at publication, but are subject to change without notice and their accuracy and completeness cannot be guaranteed. No part of this document may be reproduced in any manner without prior permission. © 2017 Ascot Wealth Management Ltd. Please note: This website uses cookies. To continue to use this website, you are giving consent to cookies being used.