Hammond hints there could be new budget following election
PHILIP HAMMOND has indicated there could be a new budget after the snap general election, as MPs continue to debate the current fiscal plan.
The Chancellor responded to challenges from MPs over the Government’s plans to secure the economy in the wake of the election on June 8 as the latest Spring Budget is still undergoing parliamentary scrutiny.
SNP MP Ian Blackford (Ross, Skye and Lochaber) accused ministers of relying on a “boom and bust” cycle rather than setting out measures to encourage growth.
Mr Hammond, speaking during Treasury questions, replied: “I can confidently predict that, after the general election on June 8, there will be a budget in order to give him the answers he is seeking.”
Earlier, Tory Treasury committee chairman Andrew Tyrie urged the Chancellor to “truncate” the Finance Bill to allow a focus on deciding which party could best run the economy.
In reply, Mr Hammond said: “On the matter of process, assuming that the House votes in favour of the Prime Minister’s motion tomorrow, there will then be the usual end of parliament process of negotiation with the official opposition around measures that are currently before the House with a view to passing them in whatever form is appropriate before prorogation.”
Traditionally, there are two budgets a year, but Mr Hammond decided to scrap the Spring Budget in favour of a single Autumn Statement when he became Chancellor.
His comments came as MPs began debating the Finance (No.2) Bill in the Commons yesterday, which contains policies outlined during Mr Hammond’s final Spring Budget last month.