Philip Hammond announces this will be his last Autumn Statement… Because he is abolishing them

Chancellor Philip Hammond has announced he is abolishing the Autumn Statement and moving the main budget statement from the spring to the autumn.

The Autumn Statement is to be abolished and next year’s budget is to be the last one held in Spring.

Starting in Autumn 2017 the annual Budget will be held in the Autumn and subsequent Spring statements will not be “major fiscal events”.

More to follow