Budget 2018: When is the Budget 2018 - what can we expect from Phillip Hammond's budget?
THE final budget before the Brexit deadline is set to be delivered by the Chancellor. But when is the Budget 2018 and what can we expect from Phillip Hammond's Budget?
Philip Hammond: UK should expect a 'deal dividend'
The Budget is Chancellor Philip Hammond’s most important speech of his year.
He will announce the Government’s plans for tax and spending for the financial year, which will begin in April 2019.
The aim of the Budget is to help “build a stronger, more prosperous economy”.
This will be the last Budget before the UK leaves the European Union on March 29, 2019.
When is the Budget 2018?
The Budget will be delivered on Monday, October 29 at 3.30pm GMT.
This will take place a few weeks earlier than usual, so that it doesn’t clash with with the final Brexit negotiations in November.
What can we expect from Phillip Hammond's budget?
Austerity
Prime Minister Theresa May declared austerity is coming to an end during the Conservative Party conference earlier in the month.
So now it will be up to Mr Hammond to prove how he will raise the money to do this.
However, this could be a tricky task for him, as Brexit negotiations and divorce bills could rack up to a hefty £39 billion.
The NHS
The Government has said it will find an extra £20 billion for the NHS by 2023.
But this could result in taxes rising.
During the Conservative Party Conference, Mrs May announced the borrowing cap for local councils looking to build new houses would be scrapped, to help with the housing shortage.
However, this could make the national debt worse.
Driving costs
The Prime Minister also added fuel duties could also be frozen for the ninth year in a row.
She said: “I can confirm that in the budget later this month, the Chancellor will freeze fuel duty again.”
Digital tax
The Treasury is reportedly planning to crackdown on the advertising revenues of massive corporations such as Facebook and Google.