There was further good news when Hammond revised down national debt forecasts to reach a relatively healthy 0.9 per cent of GDP in 2022, down from 1.8 per cent in 2018.
That was £4.7 billion lower than forecast in November.
Mr Hammond suggested the news was good enough to consider loosening the spending taps in autumn's full-scale Budget.
Mr Hammond has said he might be able to allow a bit more public spending later this year.
Mr Hammond said there had been "solid progress towards building an economy that works for everyone" with growth every year since 2010.
The next revaluation for business rates has been brought forward to 2021, after which the Government will move to revaluations every three years, the Chancellor said.
"The vote to leave the European Union appears to have slowed the economy, but by less than we expected immediately after the referendum", the OBR said in a statement published alongside the budget update.
This marks "a turning point in the nation's recovery from the financial crisis of a decade ago" and there is now "light at the end of the tunnel", he said.
Philip Hammond's Spring Statement was characterised by unsafe complacency and offers no light at the end of the tunnel for families across the country, according to Positive Money Executive Director Fran Boait.
The UK GDP is set to grow 1.5 per cent between 2018 and 2019, up from 1.4 per cent from previous estimates.
The economy is expected to grow more strongly than predicted in 2018 with public finances also improving.
In this respect then, when coupled with warnings of the dire economic calamities of a Corbyn government, it is hard to escape the conclusion that the Spring Statement was an extended party political broadcast and not much else.
The FTSE 100 index has slipped into the red in today's session, staying subdued with Chancellor of the Exchequer Phillip Hammond delivering his first Spring Statement.
The Treasury said that the call for evidence "will explore how changes to the tax system or charges could be used to reduce the amount of single-use plastics we waste by reducing unnecessary production, increasing reuse, and improving recycling".
London is to also receive an additional £1.7bn to deliver an extra 26,000 affordable homes, taking the total to 116,00 by the end of 2122.
In his Statement, Mr Hammond announced a consultation on digital payments and the use of cash.
Furthermore, the government has said that it is working with 44 areas which have submitted bids to the Housing Infrastructure fund, to make sure that only those homes that are needed are being built.
"The growth predicted in the hard period up to Brexit was encouraging, as was the £80m for small businesses via the Apprenticeship Levy to help them overcome the complexity of the system".
Chancellor Phillip Hammond claims over 60,000 first time buyers have already benefitted from the stamp duty relief he announced at his November Budget.
The markets, though, warmed to Hammond's speech and sterling rose slightly against the dollar, no doubt fuelled by comments hailing the United Kingdom as an "outward looking free trading nation" whose "best days are ahead of us".