The date for this year’s Autumn Budget has been set

The date for the 2017 Autumn Budget has been set, the 22nd November chancellor will update the country on the economy.

Although Philip Hammond abolished the Autumn Statement last year in November 2016, Hammond said he would instead lay out his plans in the autumn and make a Spring Statement.

When he abolished the Autumn Statement, the chancellor said he would not introduce significant economic and financial changes twice a year “just for the sake of it”. This will be the first Autumn Budget to take place since then.

Changing to an Autumn Budget would bring the UK in line with other major global economies Hammond also said.

The Treasury released a video of Hammond announcing the date of the Budget: