View our Budget Report So, what happened?…
Autumn Budget 2017
In general, we felt that with Brexit looming large, after the national insurance U-turn in the last budget, and in light of other economic data there’d be relatively little to say, and we were correct. However I’m pleased to confirm that what has been released was generally positive in tone and in nature.
We can consider this a benign budget in terms of it’s placement in the current parliament (i.e. straight after an election, traditionally a time when we get hit hard), and one that tosses a few sweets in our direction rather than brussel sprouts. Hurray! Apologies to all you veg-lovers. Philip’s managed to do this with, according to the OBR (Office for Budget Responsibility), a 65% chance of still achieving his own fiscal rules in 2020-21.
For new readers who are unsure, the budget provides the framework for the next Finance Bill, and therefore tax and spend regulations for the following financial year.
There was a big focus on the future, technology, training and housing. There are some big numbers being thrown at the NHS as well but we’ll consider that generally out of scope of this report.