Philip Hammond announces Autumn Statement on 23 November

Image source, AP

Image caption, Philip Hammond was appointed chancellor in Theresa May's new government

8 September 2016

Chancellor of the Exchequer Philip Hammond will deliver his first Autumn Statement on Wednesday 23 November.

Mr Hammond announced the date of the Budget when he began giving evidence to a House of Lords committee.

It will set out the government's taxation and spending plans, and the state of the UK economy.

In July, Mr Hammond said he may use the Autumn Statement to "reset" economic policy, in light of the UK's vote to leave the EU on 23 June.

Appearing before the Lords committee on Thursday, Mr Hammond said: "The Autumn Statement will set out the government's economic and fiscal plans based on the latest forecasts from the Office for Budget Responsibility.

"In the run-up to the Autumn Statement I will be engaging with Britain's business leaders and employee representatives through a series of industry round tables, meetings and visits."