Philip Hammond just abolished the Autumn Statement – in the middle of the Autumn Statement

The Chancellor also scrapped the Budget too.

Philip Hammond, the new Chancellor, started his Autumn Statement by suggesting he wouldn’t be very good at “pulling rabbits out of a hat”. He was too modest.

At the end of his speech, Hammond announced: “This is my first Autumn Statement as Chancellor. After careful consideration, and detailed discussion with the Prime Minister, I have decided that it will also be my last.”