He said he would tackle the abuse of foreign pension schemes, introduce UK VAT on roaming telecoms services, plus implementing new financial penalties for professionals who enable a tax avoidance arrangement that is later defeated by HM Revenue & Customs.
These moves to tackle tax avoidance will, he said, raise £830m over the forecast period.
As expected, Mr Hammond also committed to more free schools being built in England.
A further 110 new free schools are to be built on top of the previous pledge of 500.
State of economy
In terms of what impact his plans will have on the wider economy, the government’s borrowing forecast was cut to £51.7bn in 2016.
Mr Hammond announced the Office for Budget Responsibility had - as expected - raised its economic growth forecasts for this year.
The Office for Budget Responsibility now expects the UK economy to grow 2 per cent rather than 1.4 per cent.
In 2018 growth is forecast to slow to 1.6 per cent, before picking up to 1.7 per cent, then 1.9 per cent, and back to 2 per cent in 2021.
But inflation was forecast to hit 2.4 per cent this year, according to the Office for Budget Responsibility.
It will then fall to 2.3 per cent in 2018 and 2 per cent in 2019, according to the Office for Budget Responsibility.
If the Office for Budget Responsibility is correct that will keep it at or above the Bank of England's 2 per cent inflation target for three years.
emma.hughes@ft.com
