Autumn Budget 2017: 11 Things They Said

Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.

Autumn Budget 2017: 11 Things They Said

Philip Hammond has presented the 2017 Autumn Budget, covering important issues such as Brexit, housing, emerging technology, personal taxation, and UK growth forecast. You can learn more about what the Chancellor said here.

As for how the Budget has been received, let’s take a look at 11 things they said…

Theresa May-

“I am optimistic about our future. About the success we can make of Brexit, the well-paid jobs that will be created and the homes we will build. That’s Conservatives – building a Britain fit for the future.”

Jeremy Corbyn-

“People were looking for help from this Budget and they have been let down by a government that, like the economy they have presided over, is weak and unstable and in need of urgent change.”

John McDonnell, Labour Shadow Chancellor-

“Economic growth is the lowest it has been since the Tories came into office and today’s Budget confirms that failure, with growth and wage forecasts revised down in every year of the forecast. If the Government cannot address the scale of the challenges facing our economy they should stand aside for a Labour government that will”

Boris Johnson-

“Tories continue to be party of homeownership with stamp duty cut and £44bn for house building plan, while maintaining strong public finances. Great Budget 2017 from Philip Hammond.”

Laura Kuenssberg, BBC Political Editor-

“No 10 sources say stamp duty policy polling v strongly (they would, wouldn’t they, but still) , private polling suggests its most popular measure in Budget”

Former Chancellor George Osborne’s Evening Standard editorial column-

“Instead of this fantasy economics, the Chancellor sensibly stuck to his fiscal rule, even if he lost his margin for error. The Westminster caravan will move on quickly from this Budget.

As the big downgrade to the growth forecasts show, the economic and political course of the Government is set — and there was nothing Mr Hammond’s bittersweet Budget could do today to shift it.”

Kamal Ahmed, BBC economics editor-

“Chancellor has anointed us sixth largest economy in the world. We were the fifth”

The Times, main headline-

“Hammond eases off austerity”

The Guardian, main headline-

“Hammond struggles to lift the gloom”

Peter Bould, author of Tackling The Savings Gap, True Potential Investor-

“Today’s Budget was again about a “P” but it was productivity for a change, not Pensions. It’s hard to remember a Budget for over decade where Pensions got fewer mentions. The Chancellor left them well alone. That is a relief to Pension savers who will have struggled to keep up with the many changes to Pensions over recent years.”

Philip Hammond reacts to the post-Budget negativity-

“The challenge for us now is to prove them wrong, the challenge for us is to deliver that higher productivity that will feed through into higher economic growth. And its about training our workforce with more skills, its about investing more capital in our businesses, its about building more infrastructure.”

Have your say, comment on our Facebook or Twitter. Subscribe to the True Potential Investor YouTube Channel.

Global Markets