On Wednesday 23 March, the Chancellor will deliver his Spring 2022 Forecast Statement and has requested the Office for Budget Responsibility (OBR) to provide an economic and fiscal forecast for the date.
The Chancellor will use the forecast to provide an update on the economic progress made from the policies outlined in the Autumn 2021 Budget.
What are we expecting from the Spring 2022 Forecast Statement?
The Government is currently under pressure to help individuals cope with the cost-of-living crisis and to provide support with industries struggling post-pandemic.
Due to these conditions, it’s difficult to predict whether the Chancellor will revert back to an Autumn Budget – or whether he will use the Spring Forecast Statement to announce fresh policies before the start of the new financial year.
How can MHA Moore & Smalley help?
Our tax experts and sector specialists will be hosting free-to-attend events on the two days following the Spring 2022 Forecast Statement.
We will be discussing any new announcements and help you to adapt and reassess your financial plans in light of any legislative changes arising from the Spring 2022 Forecast Statement. You can reserve tickets to our events here.
Right now, however, businesses and entrepreneurs must plan for the forthcoming tax changes announced in the Autumn Budget 2021, and also be prepared for what to expect for the Spring 2022 Forecast Statement.
Click here for further insight from MHA Moore and Smalley.