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Chancellor prepares for Autumn Statement

23 November 2016

Today sees Chancellor Philip Hammond's first Autumn Statement, which is also the first major economic focus issued by the government since the Brexit vote in the summer.

With uncertainty continuing over all aspects of the UK's departure from the EU, the FM sector will be watching today's announcement with keen interest.

At first glance, it seems that the most relevant aspect to the industry will be the predicted increase in the National Living Wage to £7.50 an hour.

This is expected to come into effect from April next year.

There is also conjecture about the future of cuts to Universal Credit, typically claimed by those on lower income, which may also have implications for FM workers in some areas.

Chancellor Hammond is additionally expected to announce £1.3bn allocated to improving the UK's road network, along with numerous other announcements including a ban on upfront fees charged by letting agents in England.

The Autumn Statement will take place at around 12.30 today and follows Prime Minister's Questions in the House of Commons.


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