Tax Journal understands that the next Budget is not expected until the autumn. While the OBR has been asked to produce an economic and fiscal forecast for 23 March 2022, we’re told that the chancellor will only be making a Spring Statement to Parliament in response to that forecast, and the next Budget will be in the autumn. This heralds a return to a ‘single fiscal event’ envisaged by the Treasury’s Budget timetable and tax policy making process (published in December 2017).
Under the 2017 plan, tax policy consultation should generally develop as follows (over roughly 16 months):
