Mr Hammond's first and last spring budget was a cosh delivered to the growing army of the self-employed (white van drivers to barristers) and micro-company directors (interior designers to marketing consultants), concealed in a velvet glove of fiscal reassurance.
The good news is that the British economy is still relatively dynamic relative to its peers; the bad news is that growth prospects mean that "austerity" is likely to be the order of the day for another decade. Mr Hammond and his team are competent pragmatists; but, worryingly, there is little evidence of long-term strategic thinking in Whitehall.
The United Kingdom is not going to go broke any time soon and its citizens will continue to enjoy relatively good levels of employment and economic growth (though whether that growth translates into rising wages is another matter). Even though productivity growth is still lagging badly. That was the un-ecstatic message that the Chief Accountant – sorry, Chancellor of the Exchequer – delivered to the House of Commons on 08 March.
by Zak Mir | Trading| 1 mins. to read Like many of its contemporaries in the mining-minnows space, it has taken a while for Bushveld Minerals (LON:BMN) to catch up with the bullishness of the giants of its sector since the beginning of last year
by Robert Stephens | Equities| 5 mins. to read Although economic data suggests the UK economy has generally not been severely affected by the EU referendum, I expect a 'restaurant recession' to take place in 2017/18.
by Zak Mir | Trading | 1 mins. to read Like many of its contemporaries in the mining-minnows space, it has taken a while for Bushveld Minerals (LON:BMN) to catch up with the bullishness of the giants of its sector since the beginning of last year.
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