Autumn Statement 2016

23 November 2016

Chancellor of the Exchequer, Philip Hammond, delivered the 2016 Autumn Statement to the House of Commons on Wednesday 23 November.

Autumn Statement 2016

The Autumn Statement provides the Chancellor, Philip Hammond, an opportunity to update MPs on the Government’s plans for the economy based on the latest forecasts from the independent Office for Budget Responsibility (OBR).

The OBR's revised forecasts for the economy and the public finances were published alongside the Autumn Statement on Wednesday 23 November.

Related Information

House of Commons Library Research Briefing

The House of Commons Library provides research, analysis and information services for MPs and their staff.

The Library has produced a briefing that sets out the economic and public finance background to the Autumn Statement.

Why is there an Autumn Statement?

The Government is legally required to publish a financial report on the state of the economy twice a year. From December 1976 until November 1992, the Chancellor of the Exchequer made an Autumn Statement to the House of Commons in addition to the annual Budget Statement in the Spring.

The Spring Budget and the Autumn Statement were merged and a "unified-Budget" was presented to Parliament in November 1993. The unified-Budget was then replaced in 1997 with the traditional Spring Budget and the publication of a new Pre-Budget Report in the autumn.

The coalition government announced in September 2010 that it would replace the Pre-Budget Report with an Autumn Statement. The Autumn Statement includes UK economic growth forecasts produced by the Office for Budget Responsibility.

Watching debates from the public gallery

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Image: PA

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