09 Nov 2016 11:05 AM

The Autumn Statement may take on a new dimension following Donald Trump's win in the US. Philip Hammond has previously indicated that the UK needs to maintain and improve investment in infrastructure and services and so the target of a budget surplus by 2020 has been pushed far out into the distance.

The UK needs to ensure the economy remains stable and as unaffected by other global events as possible, with a focus on keeping inflation and interest rates under control whilst ensuring job security. The Autumn Statement therefore should be no time for political games or 'rabbit out of the hat' type of surprises that Osborne enjoyed, but should focus on where the government plans to invest with any changes to the tax system being focussed on tax incentives for investment and continuing to curb tax avoidance.

Back to the US election though, whilst much of the world is in shock at the result, let's remind ourselves that the Republican camp have openly declared the UK to be a major partner for US trade and that we will be at the front of the queue (or line) when it comes to negotiating a free trade deal - well ahead of the EU.

So perhaps, as a growing mood amongst business seems to be suggesting, the UK can become a gateway to the US for European and Far East business, and so another good reason to set up and retain business operations in the UK.

TAX