December 6, 2017 / 2:58 PM / a year ago

UK spring fiscal statement to be announced on March 13 - Hammond

Britain's Chancellor of the Exchequer Philip Hammond in London, Britain, December 4, 2017. REUTERS/Toby Melville

LONDON (Reuters) - Chancellor Philip Hammond said he would deliver an update on his budget plans on March 13.

Hammond has previously said he would turn his autumn statement on the budget into the government’s main fiscal announcement of the year, diminishing the importance of the spring statement.

Speaking to lawmakers on Wednesday, Hammond said he would use the March statement to respond to the latest forecasts by Britain’s independent budget office and to discuss ideas “around some longer-term issues and initiate consultations” ahead of the autumn 2018 budget statement.

Reporting by David Milliken and Andy Bruce; Writing by William Schomberg; Editing by Alison Williams

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