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Chancellor to deliver first Autumn Statement on 23 November

(Photo by Dan Kitwood/Getty Images)

Chancellor Philip Hammond has announced he will present his first Autumn Statement to Parliament on 23 November.

In a bid to ensure the UK economy keeps on growing post-Brexit, it is expected housebuilding as well as public infrastructure projects will form the foundations of his plans.

The statement will also include the latest economic forecasts from the Office for Budget Responsibility.

In July Hammond pledged to carry out a fiscal “reset” of the UK’s economy.

Addressing Parliament yesterday, he said: “I would hope that in designing a new fiscal stimulus, any sensible Chancellor would seek to do as much as possible through investment that will not only deliver short-term demand stimulus but will also address longer-term, structural problems in the economy.”

In the coming months, the Chancellor will also be attending a series of “high-level industry roundtables”.

As well as holding further discussions with the financial services sector in October, he will also chair roundtables with representatives from the world of technology, retail and manufacturing as well as from the Confederation of Business Industry, the Federation of Small Businesses and the British Chambers of Commerce.

Hammond says he is determined industry and Government work together to ensure “Britain takes full advantage of the opportunities Brexit presents”.

He adds: “We want to ensure the continued investment that creates jobs and supports wage growth throughout this period of uncertainty ahead of the UK formally leaving the European Union.

“That means listening to businesses and organisations who represent working people all over the country, and taking the necessary steps to maintain economic stability.”

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