Spring Statement 2018: Philip Hammond Unveils Good News On The Economy – And Hints He Could Use Windfall To Go On Spending Spree


PHILIP HAMMOND is today unveiling good news for the economy – but will resist calls to open the spending taps.

Delivering the Spring Statement, the Chancellor was expected to announce that the official budget watchdog has upgraded its estimates for growth.

Philip Hammond delivering the Spring Statement in the House of Commons

The Office for Budget Responsibility was also due to forecast a falling deficit – prompting calls for an end to austerity after eight years.

But Mr Hammond has refused to increase spending, warning that Britain still faces a sky-high debt burden.

He faces pressure from Tory backbenchers and opposition parties to open his wallet and give more cash to the NHS, defence and welfare.

The Spring Statement was not expected to feature any new announcements on tax and spending.

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