Tag Archives: Budget 2017

Philip Hammond’s spring Budget was a disaster. The Chancellor’s decision last week to knock the self-employed, at a time when such flexible, often entrepreneurial workers have helped drive the UK’s employment boom, has badly backfired.

This row over national insurance contributions, though, while serious, shouldn’t detract from other important aspects of this budget. On the plus side, Hammond confirmed corporation tax will fall from 20pc to 19pc next month and 17pc by 2020. I was also pleased by what looks like a genuine commitment to boost vocational training.
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This was Philip Hammond’s first Spring Budget but, as he said himself, his last. From now on, there will be just one annual budget statement, every autumn. The Chancellor looked relaxed yesterday and even cracked some pretty good jokes at Jeremy Corbyn’s expense.

Faced with weak opposition, though, Hammond delivered a centrist, somewhat Blairite budget, rather than a package backing wealth-creation and entrepreneurs. Worse than that, he spectacularly failed to get a grip on the UK’s wayward public finances.

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