What Were the Key Change’s in Hammond’s First Autumn Statement?

British finance minister Philip Hammond delivered his first detailed statement to parliament on budget policy since taking office in July following Britain’s vote to leave the European Union.

For the main story on the Autumn Statement, please click on

Here are some of the main announcements:


Hammond announced the independent Office for Budget Responsibility (OBR) had cut its official forecasts for economic growth for the next two years.


GBP/USD – Pound Ticks Lower, UK Forecasts Lower Growth in 2017

UK to Borrow More as Growth Forecast to Stall


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam

Latest posts by Craig Erlam (see all)