Chancellor Philip Hammond sets date for next Budget

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Philip Hammond

The next Budget will be held on Wednesday 22 November, Chancellor of the Exchequer Philip Hammond has said.

It will be the first Budget since the Conservatives lost their majority in the House of Commons in the snap election in June.

Mr Hammond delivered another Budget earlier this year in the spring.

But he has previously indicated that the main date for the annual speech, which outlines fiscal forecasts and tax changes, will move to the autumn.

The chancellor said the Budget was an opportunity for the government to "set out our thinking on how to keep the economy strong and resilient and fair".

Brexit 'uncertainty'

Mr Hammond told the Lords Economics Affairs Committee that the UK economy had "inevitably been overshadowed by the uncertainty of the Brexit negotiation process".

"The quicker we can generate some clarity about the future for business and consumers, the better, so that we can get back to the business of pursuing what I think looked like a very positive outlook for the UK economy in early 2016," he added.

Also on Tuesday, the government moved on public sector pay, announcing pay rises for police and prison officers which go beyond the current cap.

Downing Street signalled the end of the 1% pay freeze for other public sector workers, saying they recognised the need for more flexibility in future.