Day-to-day spending being brought back into balance is good news, and it makes some spending decisions easier, but beware hype about the ‘end of austerity’.
However the Wyre Forest MP is less optimistic than some about the prospect of a ‘Brexit dividend’ which will further boost public spending.
“But we are still in the tunnel at the moment. We have to get debt down. We’ve got all sorts of other things we want to do.”
It’s later than Osborne planned, but good news nonetheless. Now Hammond must hold the course, and resist siren calls to start splashing the cash.
Economically, it could be transformational, as it has been in Norway, which established its fund back in the early 1990s. It is now worth over a trillion dollars.
It continues to clear the deficit, prepare for Brexit, and back our businesses with the support they need to boost productivity.
The Shadow Chancellor doesn’t know the current cost of debt interest.
Hammond’s plan – from abolishing Stamp Duty for most first-time buyers, through to reforms to help Universal Credit recipients.
Let’s have Policy Board outside of the constraints of the Government machine – and a commission on what Britain should look like post-Brexit.
Letting disagreements about Brexit leak into the Budget’s treatment could deal the Government irreparable damage – and voters much harm.
The Social Market Foundation isn’t tied to any party. We’re centrists – our advice and ideas on offer to anyone who wants to put common sense ahead of ideology.
“Investing in the future, taking advantage of record low interest rates, can be the right thing if done sensibly.”
Plus: Economics is not enough, two lots of protesters (one in first class travel), and keeping fit at Party Conference.
Nearly everything believed to exercise Labour more than the Tories was also named more often as a priority for “me and my family” than for Britain as a whole.
Ministers should remain focused on delivering on their promise to cut the deficit, even if it means paying the iron price to do so.