Article 41VBA Hammond delivers budget of tax cuts and spending to shore up May

Hammond delivers budget of tax cuts and spending to shore up May

by
Heather Stewart and Larry Elliott
from on (#41VBA)

Chancellor declares austerity is coming to an end with budget making little reference to risks of a no-deal Brexit

Philip Hammond declared "austerity is coming to an end," on Monday, as he sought to reassure voters, and shore up the morale of fractious Tory MPs Theresa May needs to back her Brexit deal by peppering his budget speech with spending pledges and a surprise income tax cut.

As negotiations with the EU27 enter their frantic final weeks, the chancellor cast off his cautious reputation and opted to spend almost all of a 68bn windfall handed to him over the next five years by the independent Office for Budget Responsibility (OBR).

Related: Is austerity in the UK really over after 2018's budget?

Working people cannot be fobbed off again with promises of a better tomorrow that never comes.

Continue reading...
External Content
Source RSS or Atom Feed
Feed Location http://feeds.theguardian.com/theguardian/business/economics/rss
Feed Title
Feed Link http://feeds.theguardian.com/
Reply 0 comments