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SPRING STATEMENTMarch 12 2018 12:00pm The Times Spring statement Chancellor will get stuck into chewing gumnew Oliver Wright Policy Editor
Ellis Copeland | 13 March, 2018, 18:48

British finance minister Philip Hammond on Tuesday gave an update on Britain's finances and economic outlook. The entire debate is expected to last about two hours.

And that it was the "Eeyores of Labour" who were talking down Britain.

With an expected drop in borrowing, higher-than-predicted GDP growth of 1.7% for 2017 and the recent elimination of the Government's deficit on day-to-day spending, Mr Hammond is expected to tell MPs that the United Kingdom is reaping the reward for years of austerity.

Hammond said in the next tax year taxpayers will pay £1,075 less in income tax than in 2010-11.

It will peak at 85.6% of GDP in 2017-18 then fall to 85.5% in 2018-19, then 85.1%, 82.1%, 78.3%, and finally 77.9% in 2022-23.

This marks "a turning point in the nation's recovery from the financial crisis of a decade ago" and there is now "light at the end of the tunnel", he said. He claimed there was "light at the end of the tunnel" but refused to rule out further cuts.

As the Chancellor delivered his statement, MPs from the opposite benches were quick to offer a different take on the economy via Twitter.

Craig Mack, 'Flava In Ya Ear' Superstar, Dies at 46
Following news of Mack's death, the hip-hop community and fans took to social media to express their condolences. Rapper Biz Markie also paid tribute , saying: " He had two flawless singles and the platonic rap remix".

Sevilla Star Warns Manchester United Ahead Of Champions League Tie
Carrick is unlikely to be in the starting line-up on Tuesday, while there are also big questions over Paul Pogba's availability. Carrick knows better than anyone in the squad about the high standards demanded at Old Trafford .

Moving on to the next slice of good news, the chancellor was able to confirm that inflation would "fall back to target over the next 12 months" - arguably giving the government and Bank of England some wriggle room to further delay monetary tightening. "Our economy is created to fail people - and it needs an overhaul". "I am at my most positively Tigger-like".

"Existing plans alone are not enough", he added.

He said: "Our economy will remain and open and outward-looking, confident to compete with the best in the world".

Business leaders largely welcomed the move, but also said that it was important that the Chancellor doesn't let politics get in the way of these plans, especially as the United Kingdom heads towards Brexit.

Citing the success of the five pence plastic bag levy, the Treasury will be gathering evidence from environmental organisations, businesses and individuals on how the tax system can be used to reduce the UK's reliance on plastics.

Mr Hammond announced that London would receive and additional £1.7 billion to deliver 26,000 affordable homes - including homes for social rent, taking the total number to more than 116,000 by the end of 2021/22. Hammond's spokeswoman said it would help the government to make better judgments about whether Britain needed "fewer bridges, more programmers". Announced in the 2017 Autumn budget, new diesel cars have to meet the Real Driving Emissions limits for nitrogen oxide to stay within their current tax bands.

But it would be wrong to say that the content and tone of the statement wasn't anticipated - the Spring Statement was expected to be a short affair with no significant policy announcements, which will be saved for November's Budget.

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 President Donald Trump is telling reporters that he made the decision to oust Secretary of State Rex Tillerson "by myself". Mr Tillerson, a former chief executive of ExxonMobil, was only appointed to the job just over a year ago.
 The global economy will see its strongest growth in seven years in 2018 thanks to a rebound in trade and investment. The OECD also projected to rise of global GDP growth by 3.9 percent for both 2018 and 2019.

Manchester United vs Sevilla Live Score Stream Commentary in Champions League 2018 They register one win on the road, but it was against a lowly Malaga side that can't get a win to save their lives at the moment. Midfielder Paul Pogba remains a doubt, however, as United try to capitalise on the 0-0 draw in the first leg in Spain.

Rabada found guilty, suspended for two Tests Lungi Ngidi and South African teammates celebrate the wicket of Nathan Lyon on day four of the second test . Over the last nine months, this is the third time Rabada's send-offs have come into the spotlight.

Tillerson, Lavrov fail to meet in Ethiopia The two foreign ministers also discussed how to jointly combat terrorism and extremism in the Horn of Africa and Sahel region. Lavrov's visit is a reflection of outstanding and longstanding relation between the two countries, he noted.

How Much A Wrinkle In Time Made Opening Night And even with those numbers, Wrinkle In Time may still struggle to make a profit - as its budget far exceeded $100 million. As a writer and director, she's known for powerhouse, emotional films like Selma - the biopic of Dr.

Benue killings: Fayose lampoons Buhari's ignorance about IGP's disregard for his order On the President's engagement in Benue, Shehu said: "The programme, as it stands now, is as we had it in Taraba". It is, however, not clear if the birthday get-together took place in Abuja or Nasarawa.

Congress MLAs suspended from T-Assembly 

OPEC Price Fight Weighs on Oil That's more than top exporter Saudi Arabia producers and almost as much as Russian Federation pumps out, at nearly 11 million bpd. President Donald Trump 's decision to go ahead with tariffs in imported steel and aluminum, sparking fears of a trade war.

Gujarat Rajya Sabha polls: A must-win for both Congress and BJP UP BJP vice-president JPS Rathore told PTI, "The party has fielded 11 candidates for the ongoing Rajya Sabha elections from UP". Congress spokesperson Satyavrat Chaturvedi, who is among the five retiring members, could not make to the list.

Bills have 'some interest' in QB Sam Bradford — NFL free agency Siemian, Lynch and Chad Kelly , a seventh-rounder previous year who sat out his rookie season with injuries, remain on the roster. Their inconsistent play on both the offensive line and at quarterback have been big reasons why they've sat out the postseason.

Yankees, Neil Walker close to $5M deal 

Video purportedly shows Iowa Senate leader kissing lobbyist 

Broncos plan is obvious: Cousins or Keenum, Keenum or Cousins The Jets will make a competitive bid for Cousins and expect to get a visit from him but they don't want a repeat of 2015. He had been franchise-tagged by the Redskins each of the last two seasons, but finally gets his big payday this year.

Coutinho backs Neymar to return to Barcelona