Key points from today’s Spring Statement:
- Next spending review will take place in 2019
- UK economy grew by 1.7% in 2017
- OBR has increased forecast for growth next year but downgraded those for 2021 and 2022
- Investment programme of £44bn to raise housing supply to 300,000 a year by the mid-2020s.
- Extra £1.7bn to build 26,000 affordable homes in London
- Doubling of housing growth partnership with Lloyd Bank to £220m to help small housebuilders
- Call for evidence on single-use plastics, including the supply chain, alternatives and recycling opportunities
- Next business rates revaluation to 2021
- Government will examine ways to help small businesses deal with late payments which he describes as a “scourge”
- Chief secretary is publishing the departmental allocations of over £1.5bn of Brexit preparation funding for 2018/19.
