Autumn Statement 2016

The UK Government has set out its first set of spending plans since the decision to leave the European Union.

Chancellor Philip Hammond has said Wales will receive an extra £400m to spend on capital projects.

Live updates


  1. National

Hammond announces measures for workers

Chancellor Philip Hammond has announced measures for lower-income and self-employed workers in his first Autumn Statement.

He said that the minimum wage will rise by 30p an hour that the Government will raise the income tax free personal allowance to £12,500 by the 2020 at the latest.

minimum wage as of April 2017 - rising from £7.20
Income tax free personal allowance as of April 2017 - rising from £11,000

£400 million extra "won't meet needs of Wales" says Finance Secretary

Mark Drakeford gave his instant response to the Auntmn Statement to AMs Credit: Senedd TV

Finance Minister Mark Drakeford has told AMs that the Welsh Government will make the most of extra money from the Chancellor. But he added that £400 million over five years was not going to meet the needs of Wales.

The Chancellor should grasp the urgent need to invest in the UK economy

– Finance Secretary Mark Drakeford AM

Mr Drakeford said the money announced today wouldn't make upo to the 33% cut in the Welsh Government's capital budget since 2010. It's currently £1.5 billion a year.

  1. National

Chancellor: MoJ to hire 2,500 additional prison officers

The Ministry of Justice has been given permission to employ a further 2,500 prison officers "to tackle urgent prison safety issues," Philip Hammond has announced in his first Autumn Statement.


Chancellor "recommits" to Swansea and north Wales deals

Chancellor Phillip Hammond has said that he is "recommitting" to the support for Swansea and north Wales city deals announced by his predecessor, George Osborne. The aim is to encourage fresh business investment in the chosen areas.

A very positive outcome, to have the Chancellor’s public confirmation on commitment for a North Wales Growth Deal.

With the extra £400m announced by the Chancellor for Wales, we hope to see a fair proportion of that, supporting the economy of North Wales, for example on key investments as outlined in the Growth Vision for North Wales, especially on infrastructure and the Growth Track 360 rail investment campaign.

– Ashley Rogers, North Wales Business Council

Wales gets £400 million from infrastructure plans

Chancellor Phillip Hammond is delivering his autumn statement to MPs Credit: Parliament TV

Chancellor Phillip Hammond says Wales will get £400 million as a consequence of the spending on roads and other infrastructure that he's announced for England.

The Chancellor said high value infrastructure investment will improve Britain's productivity and so he could justify the "short term borrowing" to pay for it.

  1. National

Borrowing to fall but surplus to remain beyond 2020

Chancellor Philip Hammond announced new borrowing figures.

Chancellor Philip Hammond has announced rising Government borrowing figures as he confirmed it no longer plans to deliver a surplus in public finances by 2020.

He said Government borrowing will fall from £68.2bn this year to £21.9bn in 2019-20, followed by £20.7bn and £17.2bn in 2021-22.

ITV Economics Editor Noreena Hertz tweeted:

The new figures show a widening gap between the planned forecasts delivered by his predecessor George Osborne back in March.

March forecast of Government borrowing in 2016.
New forecast of Government borrowing in 2016.
March forecast of Government borrowing in 2017.
New forecast of Government borrowing in 2017.
Load more updates Back to top

Latest ITV News reports