Wednesday sees Chancellor Phillip Hammond present his first Autumn Statement to the country.

Business Argus has asked local business people what they would like to hear from him...

Gerald Davies, chairman, Kymin Financial Services Limited

It seems a lot longer than six and a half years since Phillip Hammond spent an hour of so with us in Kymin’s boardroom here in Bridge Street, Newport. Back in April 2010, Phillip was the Shadow First Secretary to the Treasury. Since then, we had the coalition Government for five years and more recently, the Conservative administration. Phillip has served as a minister in various departments. He was Foreign Secretary until recently, being appointed Chancellor of the Exchequer on the resignation of George Osborne in June.

Phillip became Chancellor immediately after the EU referendum, following the resignation of Prime Minister David Cameron and the beginning of Theresa May’s premiership. Nothing that he has said since then has given any indication as to what his aims are. Phillip has always been one to keep his cards close to his chest, even back in 2010. So, whatever commentators say, it is doubtful if anyone, other than his close circle, knows what to expect. Hints from Theresa May, tell no more than the 'direction of travel' for her government.

Here are some thoughts which are issued with a health warning. Remember these events in 2016 and answer honestly whether you predicted any of them - Britain voted to leave the EU; Leicester City won the Premiership; Donald Trump won the Presidency of the USA. No one predicted any of these happenings!

So, what we can expect in Phillip Hammond’s first and, perhaps last, Autumn Statement:

More public spending on infrastructure projects; roads, railways and airports

Some movement on the huge stamp duties on house purchase. I have recently read a suggestion that stamp duty should, in future, be paid by the seller of the property, not the purchaser.

More tinkering with pensions The government has to decide whether it wants people to save for their retirement, or not.

Some movement on Tax/NI rates. However, with the most recent unemployment figures, showing the lowest total for 10 years, the Chancellor may feel he doesn’t have to do much in this area.

No one knows, least of all the so-called 'Economists'.

It is expected that the Chancellor will announce that this is the last Autumn Statement. It is understood that he would prefer there to be a single annual financial statement in the spring Budget.

Robert Twigg, partner, Everett Tomlin Lloyd and Pratt

Companies welcomed George Osborne’s promise to cut corporation tax from 20 per cent to 15 per cent, but Philip Hammond appears to have abandoned that idea. It would be good to see some measures which would provide a stimulus to the property market. The scrapping of the stamp duty land tax surcharge on second homes would help to boost the buy to let sector in particular and the housing market generally, as would a u-turn on the proposed removal of tax relief on landlord’s mortgage costs. People like me, who all too often find themselves stuck in tailbacks on their commute to Newport, would very much welcome something on funding for infrastructure projects such as the M4 relief road.

Sarah Curzon, director at Broomfield & Alexander

With concern over the level and quality of housing stock in the UK, it would be encouraging to see measures to not only help first time buyers, but to also encourage responsible landlords, many of whom are considering the sale of their properties after the changes to tax relief on mortgage interest which are due to be introduced from April 2017. The Royal Chartered Institute of Surveyors, for example, has already announced a shortage of rental accommodation and called for the Chancellor to take action.

The government has also taken significant steps to counteract tax avoidance schemes in recent years and, within a week of HM Revenue & Custom’s announcement this summer that they would tackle accountants for promoting tax avoidance schemes, the new Chancellor announced penalties of up to three times the tax could be applied to tax avoiders. I believe that there will be continued changes in this area under the new Chancellor, particularly as George Osbourne was accused of being too soft on large company tax evaders.

Although Mr Hammond has given little away about his forthcoming budget, many now feel that there is a real need for some post-Brexit spending commitments to stimulate the economy, help aid in the recovery of the pound and ensure that we have continued growth in the UK.

With the uncertainty of the Brexit negotiations still a cause for concern amongst many businesses, a little bit of spending could go a long way to not only bolster the economy, but more importantly, boost business confidence across the UK.

James Crawford, CEO, Johnsey Estates, Pontypool

I am sure that the elephant in the room for the property industry is stamp duty land tax which has become too complicated and needs re-simplifying for residential property in particular. Since the changes effective from earlier in the year, the tax take has reduced on a like for like basis which is the justification.