Spring Statement

Part of the debate – in the House of Commons at 1:17 pm on 13th March 2019.

Alert me about debates like this

Photo of Philip Hammond Philip Hammond The Chancellor of the Exchequer 1:17 pm, 13th March 2019

I can confirm to my right hon. and learned Friend that the OBR’s central forecast is based, as before, on an assumption of a deal done with the European Union so that we exit via a transition mechanism and have a future close trading relationship with it. I can assure him—I am sure he needs no reassurance—that I will not be remotely tempted by the policies or the profligacy of the shadow Chancellor. My right hon. and learned Friend is absolutely right that until such time as we are sure that we will not exit via a disorderly no deal, I have to keep that fiscal powder dry, but no one will be happier than me when I can release some of that headroom to support public services, capital investment and lower taxes in this economy.