View our 2018 Spring Statement summary 14 Mar 2018Chancellor Philip Hammond delivered his first Spring Statement speech yesterday, responding to the latest economic forecasts published by the Office for Budget Responsibility (OBR). Mr Hammond also provided an update on the progress of the measures announced at the 2017 Autumn Budget, and unveiled a number of consultations on key areas. The Chancellor announced that the next business rates revaluation will be brought forward from 2022 to 2021, and invited the views of small businesses on the impact of the current VAT threshold. For a detailed overview of the latest tax rates and information, view our 2018/19 Tax Rates Centre and read our 2018 Spring Statement summary.