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March Update: Financial Services

2 March 2018

March brings a number of key political moments, as the UK marks a year since triggering Article 50 and a year to go until the formal Brexit date.

Crunch time has arrived over the nation's future trading relationship with the bloc, while internal tensions within the Conservative Party and repositioning on the part of its opponents threaten the Prime Minister's hold on power.

Meanwhile, Chancellor Philip Hammond is due to deliver his very first Spring Statement, a new-format financial update that will set the agenda for tax and spending reforms to come.

Here, Jo Hall, DeHavilland's Monitoring Consultant for Financial Services policy, gives you the lowdown on what to watch out for this March.

What's on the agenda this month

by Jo Hall, Monitoring Consultant

13 March will see the Chancellor present the Spring Statement to the House of Commons, though it is expected that Philip Hammond will have relatively little to say, with the Financial Times stating that it is likely to be the most "unmemorable fiscal event ever recorded at Westminster".

It is expected that the Financial Guidance and Claims Bill will enter Report Stage in the House of Commons in March, with MPs on the Work and Pensions Committee calling on the Government to introduce tougher legislation on pensions cold calling in the Bill.

The Data Protection Bill will have its Second Reading in the Commons on 5 March. Meanwhile, also on 5 March, Chancellor Philip Hammond will be giving evidence to the European Scrutiny Committee on Brexit. This follows numerous Brexit Cabinet Meetings where the Government has been trying to decide Britain's negotiating position.

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