09 Mar Wren Sterling’s 2017 Spring Budget Report
The Chancellor of the Exchequer, Phillip Hammond, has announced his 2017 Spring Budget.
Dubbed “a strong, stable platform for Brexit”, the Chancellor returned some higher than expected growth predictions from the Office of Budgetary Responsibility (OBR). The economy is now forecast to grow by 2% in 2017, up from the previous prediction of 1.4%, while annual borrowing for 2016/17 is forecast to be £16.4bn lower than forecast.
Given his move to a main Autumn Budget, this Budget was always expected to be light on significant announcements, and so it proved. However, self-employed workers, shareholders enjoying dividend income and those drawing income from their own company should be aware of changes to dividends and national insurance, while savers may be interested in details of the NS&I Investment Bond announced in the Autumn Statement.