Philip Hammond is not expected to bring any big changes in when he brings the Spring statement to the Commons.
Not long ago this used to be the time of year when the Treasury would be poised for its biggest annual set-piece.
The Budget was the event at which the Treasury would change taxes and spending plans. Timed to coincide with the beginning of the new fiscal year, this was the moment the government made its biggest impact on the economy. But when Philip Hammond became Chancellor, he changed things around. He shifted the date of the Budget to Autumn and converted what was the Budget into the Spring Statement.
His predecessors might have been tempted to use this second fiscal event as an opportunity to grandstand and fiddle with the figures a little bit more to throw in a cheeky tax cut or spending change.And so, one presumes, will be this year's event. Unless the Chancellor has been fooling us, there will be no major new fiscal measures, no new spending plans, no tax changes or anything like it this time around.
Instead, the most interesting stuff we're likely to see is the updated forecasts and numbers from the Office for Budget Responsibility. It is their job to compile and produce the official government economic projections, so there will be much focus over the documents they produce.
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