Spring statement 2019: the chancellor's key points at a glance
Philip Hammond has delivered his spring statement - here are the main points, with political analysis
" Spring statement 2019 - live blog
" Forecast of 1.2% growth for 2019.
Peter Walker, political correspondent: Hammond is, politically, having his cake and eating it - talking up what he says are achievements with growth and jobs, while noting what he called the "cloud of uncertainty" after last night's Brexit vote.
Related: Spring statement: Philip Hammond reveals state of UK's economy and finances - live
PW: Hammond's announcement of the three-year spending review - and the condition that this will only happen if there is a Brexit deal - is a reminder to rebellious Tory MPs that there is a world of other political decisions to make, beyond endless arguments about the Northern Ireland backstop. Austerity will end, he says, but not with a no-deal Brexit.
PW: This is the chancellor the Tory hard Brexiters detest, in full flow. A no-deal Brexit would make the economy smaller, he says, and there are factors (not least borders) over which the UK would be dependent on others. Hammond has always held this view, but after last night's vote the warning is all the more urgent.
PW: The housing section of the speech has just a brief, passing mention of the help-to-buy scheme - perhaps Hammond is mindful of the recent reports about how one of its major apparent effects has been to boost housebuilders' dividend payments.
PW: Another pointed reminder from the chancellor to his MPs that there are more important policy priorities than Brexit, and that perhaps the government could be allowed to finally get on with thinking about a few of these.
PW: This is a hugely politically difficult area for the government, whatever Hammond's insistence that police funding is rising. This was billed overnight in the newspapers as a victory for Sajid Javid - either way, it will be a popular move.
PW: Hammond's final comments on Brexit are fairly extraordinary by usual political standards. He seems to welcome the likelihood of an extension to article 50 as a chance to start work on a new Brexit deal, one based on cross-party consensus. This is not Theresa May's plan. But then, these are not normal political times.
Continue reading...