It might not be quite correct to say that the Spring Statement has been looked forward to with excitement, indeed ‘anticipated with trepidation’ might be a better phrase, but it’s here.
This statement might not be quite as impactful as the full budget, and the Chancellor has kept to her promise of not changing taxes outside the budget cycle, but nonetheless there are some important changes.
Whilst the headlines have been about cuts to public spending, whilst increasing spending on defence to keep us safe and meet our international obligations to NATO, there’s plenty more going on. The Chancellor has launched a full scale war against the ‘grey’ tax planning industry, introducing criminal penalties for improper behaviour, whilst at the same time recognising the valuable role tax incentives can play in encouraging investment into particular sectors of the economy.
It’s going to be a bit close to the wire with the world not really helping the Chancellor out, but one thing is for sure is that this year is going to be interesting.
