Writing2

Here's What 'Spreadsheet Phil' Should Have Done For A Truly Radical Budget

Many commentators have already concluded that ‘Spreadsheet Phil’ did the best he could with a bad hand in this week’s Budget.

Published: Tuesday 28 November, 2017



Image: NEW STATESMAN - Philip Hammond poses for the cameras in Downing St ahead of the Budget / Huff post

It’s true that the Chancellor, Philip Hammond, was able to produce a few headline-grabbing giveaways, especially around housing, an issue which the Prime Minister has pledged to take “personal charge” of solving. Cue an apparent injection of £44bn into housebuilding designed to see 300,000 new homes per year delivered by the middle of the next decade.

And those looking to buy a home received the welcome news that purchases below £300,000 will no longer attract Stamp Duty. Elsewhere, largesse was more muted. An extra £2.8bn for the NHS was almost immediately criticised by health service bosses as woefully inadequate and jarred next to the £3bn set aside to deal with Brexit-related costs. The irony will not have been lost.

But try as he might, the Chancellor found it impossible to hide from the swingeing downgrades to the UK’s economic growth prospects from the oft-labelled “independent” Office for Budget Responsibility. The OBR laid the blame for the slowdown in Britain’s GDP rises over the coming years on sluggish productivity, which is set to hit tax revenues.

You can here the full article here

Share this article:




Recent Posts

Panel Discussion: Rebuilding Macroeconomics after the Pandemic

Media

Financial Crisis, nationalism and COVID-19 are all socio-economic pandemics in the last decade. Each one starts in a small corner of our world, then spreads across continents in a very short space of time. Each one is a surprise, and each one catches us unprepared. If we are to be prepared for the next pandemic or crisis, we need a different approach to economics.

Read More

Post-Covid Live 5: Farming the Future

Media

Post-Covid Live addresses the nature of society, the kind of government and the form of economy we will need and want after the crisis. It is no longer possible to endorse the market as the primary mechanism for creating value and solving problems.

Read More

Post-Covid Live 4: Cascading the Positive

Media

Post-Covid Live addresses the nature of society, the kind of government and the form of economy we will need and want after the crisis. It is no longer possible to endorse the market as the primary mechanism for creating value and solving problems.

Read More