A Statement for the Rites of Spring

Pub. Date
14 March, 2018
Pub. Type

Chancellor Phillip Hammond presented the first Spring Statement yesterday. This was not the occasion to expect new fiscal policies or for rabbits out of a hat – we were told that in advance – even the symbolic red budget box was missing. The Chancellor kept to his promise and made this a non-event but in our assessment, he missed the opportunity to address some important long-term challenges facing the economy and public finances such as the pressures from an ageing population and also a shorter-term strategy to neutralise the impact of Brexit.