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Adam Smith Institute – A grown-up is in charge

“Philip Hammond’s budget today was unambitious, but it showed that a grown-up is in charge of the country’s finances. With Jeremy Corbyn and John McDonnell across the chamber, uncertainty about the Brexit deal, scandals plaguing every level of government, as well as very bad productivity and growth forecasts, it’s nice to see a budget avoid all major potential policy mis-steps and properly diagnose Britain’s most serious problems.”

Bright Blue – A missed opportunity to help the poorest in society

“A single Budget, of course, cannot and should not seek to resolve all the challenges Britain faces and transform public attitudes towards a government. However, the Chancellor did miss the opportunity to be bold in radically distributing public expenditure under the current fiscal framework to really help the poorest in our society, fix the housing crisis and take the necessary steps to reduce carbon emissions and improve the environment.”

Centre for Policy Studies – A necessary U-turn on Universal Credit

“Within the constraints imposed by the productivity and GDP downgrade, the Chancellor did many things right – although there were arguably too many minor, interventionist initiatives. But the U-turn on Universal Credit was necessary and welcome, there was a cash boost for the NHS, and firms will benefit from the more generous offer on business rates. He also avoided some expected bear traps, such as punishing white van men by lowering the VAT threshold.

Institute of Economic Affairs – Planning reform is a silver bullet for more housing

“The announcements made on housing fall desperately short of what is needed to fix the market. A cut in stamp duty for first time buyers is misguided; it might help some, but mainly at the expense of others – including second-time buyers such as growing families who are not obviously any less worthy of support….Instead of simply reviewing planning of undeveloped land, the government should be completely overhauling current restrictions and liberalising our planning system to free up land for houses to be built.”

Leave means Leave – A step in the right direction on Brexit

“After months of applying pressure on the Chancellor to acknowledge the economic benefits of Brexit, we are pleased he has finally taken our advice. This is the first time the Chancellor has had anything positive to say about Brexit and it is a small step in the right direction. However more must be done. Brexit offers a once in a generation opportunity to reinvigorate the British economy and this must be seized upon.”

Northern Powerhouse Partnership – Good decisions for Tyneside and Teeside

“North of the Tyne devolution will proceed – this in the best interests of those living here, and our businesses, from FTSE 100 companies such as Sage to the vibrant digital businesses with people trying to scale up their great smaller business every day….Investment in the Tees Valley South Tees Development Corporation is right for our country, and vital for the Northern Powerhouse. It has been my pleasure to support the calls of locally elected Mayor Ben Houchen.”

Social Market Foundation – Productivity is the key

“The story of this Budget is the weak productivity that will drag down economic growth and leave us all poorer than we could be…If politicians fixated on Europe spent more of their tine on increasing UK productivity by ensuring British workers have the skills, training and technology they need, the eventual economic consequences of Brexit would matter much less.”

Taxpayers’ Alliance – We needed pro-growth tax cuts

“While the budget reduced tax overall, we are still on course for the biggest tax burden since 1969. Economic forecasts are of very limited use, but if the chancellor really believes that growth is going to be as weak as the Office for Budget Responsibility does he could have announced some targeted pro-growth tax cuts to give businesses a boost.

 

60 comments for: Think-tanks react to the Budget. Some praise, more criticism…and a sense that the housing announcements didn’t go nearly far enough

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