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Britain will weather the Brexit storm after upturn in nation’s finances, insists Philip Hammond

The nation’s coffers will be up to £10billion a year better off than the grim prognosis from the last Budget

PHILIP Hammond will today insist resilient Britain will weather the Brexit storm as he unveils an upturn in the nation’s finances.

In a marked contrast to his “Eeyore” reputation, the Chancellor will paint a “very chipper” vision of the economy, aides said.

 Chancellor Philip Hammond will insist Britain will weather the Brexit storm
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Chancellor Philip Hammond will insist Britain will weather the Brexit stormCredit: Reuters

Thanks to stronger than thought growth and better tax takings, the nation’s coffers will be up to £10billion a year better off than the grim prognosis from last November’s Budget.

And Mr Hammond will also say that the Treasury’s independent forecasters believe the UK will continue to thrive and defy previous predictions of doom during Britain’s EU exit.

There will be no tax or spending decisions during today’s 20 minute statement. The Chancellor will also insist he has listened to business and will hold back big decisions to just once a year.

But he will announce a series of consultations on the tax system for action in the November Budget.

One is set to be a plan to tax revenues rather than profits of internet giants like Facebook.

The move would end big tech’s tax dodging.

Chancellor​ ​Philip Hammond​ ​says public finances will improve but councils will not get a major cash injection
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