As always we’ve been keeping an eye on what’s happening in the Commons for anything of interest to our contractors and agency partners. Last week the date of the new Autumn Budget was announced and there was a second reading of the draft Finance Bill (No.2), enabling MPs to debate the proposals.
Chancellor Philip Hammond has set the date for first Autumn Budget as 22nd November. It replaces the Autumn Statement we have been used to and will now be the main event in the fiscal calendar, replacing the annual Spring Budget.
The Autumn Budget is expected to be relatively low-key this year and the Chancellor is predicted to announce policies which will go down well with the electorate in the hope of clawing back voters in the wake of the General Election.
The Office of Budget Responsibility is legally obliged to deliver two fiscal forecasts a year, so there will now be a Spring Statement.
The Liquid Friday team will be live tweeting throughout Mr Hammond’s budget speech on Wednesday 22nd November. Follow us on Twitter
The Government has published the draft Finance BIll (No.2) of 2017 which had its second reading in the House of Commons last week. It covers legislation omitted from the slimmed-down Finance Act of April, which was cut down from 762 pages to 148 in order to get it passed in time for the dissolution of parliament prior to the election in May.
With most of the measures having been introduced in previous budgets, there are no major surprises. We have picked out the following points of interest:
Read the full Finance Bill (No. 2) here
Stay informed of the big issues in contracting and contractor recruitment by subscribing to the Liquid Friday blog.
We take a clear, practical approach to what’s new in compliance and legislation so you just get what you need to know.
We’ll also keep you up to date with new Liquid Friday services and offers so you don’t miss out.
Click here to sign up to the the Liquid Friday blog