Autumn Statement

Norman Lamont made the last Autumn Statement

The government is legally required to publish a financial report on the state of the economy twice a year.

The Autumn Statement used to be made by the chancellor of the exchequer to the Commons to outline the latest projections for the economy over the following three years and broad spending allocations for each department.

It was accompanied by publication of the Red Book, which contained the spending plans and financial statement.

Ken Clarke introduced a combined Budget

Evidence on the Autumn Statement was taken and the statement was discussed subsequently by the Treasury and civil service select committee before being debated in the Commons.

The last Autumn Statement was made by Norman Lamont - now Lord Lamont - on 12 November 1992 and it no longer exists in that form.

The following year Kenneth Clarke merged the Spring Budget and the Autumn Statement.

Effectively he combined publication of the Red Book (spending plans) with publication of taxation plans.

The newly combined or Unified Budget was delivered on the final Tuesday of November each year.

Gordon Brown introduced the Pre-Budget Report

To fulfil the legal obligation Mr Clarke also made a Summer Statement to the House.

This situation lasted for four years until Labour's election victory in 1997.

That November the new chancellor, Gordon Brown, changed the process again.

He unveiled a Pre-Budget Report for the autumn and reverted to a Spring Budget.

For the first time the Pre-Budget Report formally made available for scrutiny the government's overall budget plans.

The aim was to encourage a national debate several months in advance of the main Budget Statement each Spring.