A round up of other news this week.
The Finance Bill 2018-19 was introduced to the House of Lords on 9 January 2019. The scheduled date for the second reading and all remaining stages has been pushed backwards to 7 February 2019; a postponement of the initial date of 4 February 2019. The planned date for Royal Assent has still not yet been published.
The Chancellor of the Exchequer has announced that the Government will respond to the forecast from the Office for Budget Responsibility (OBR) in a Spring Statement on Wednesday 13 March 2019.
KPMG in the UK’s Chief Economist, comments on the UK’s record level of employment at 4 percent, in the three months to November 2018. Workers saw another uptick in pay, with regular pay increasing by 3.3 percent in year on year terms.
Yael Selfin, Chief Economist at KPMG UK, comments on public sector borrowing that increased to £35.9 billion for the current financial year in December, well above the forecast of £25.5 billion made by the OBR in October 2018.