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The Office for Budget Responsibility (OBR) is required by law to produce two forecasts a year. One of these will remain at Budget. The other will fall in the spring and the government will respond to it with a Spring Statement.
Today’s Autumn Statement will build an economy that works for everyone in Scotland and the rest of the UK. The rise in the National Living Wage means a well deserved pay rise for thousands of Scots, and the freeze in fuel duty will make it about £10 cheaper for drivers every time they fill up their car.
Backed by a £178 billion equipment plan and defence budget rising in real terms for the rest of this parliament, the UK is one of the five of the 28 countries in NATO that meets the 2% spending target.
This means following the spring 2017 Budget and Finance Bill, Budgets will be delivered in the autumn, with the first one taking place in autumn 2017.
IGas are planning to drill an exploratory borehole to explore the potential for gas production. They would like to drill a single vertical well down through the coal and shale layers to collect the rock samples for analysis.
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