020 7898 0500Naturally, whenever the UK budget is delivered it dominates the headlines throughout the day – not just the business headlines either. Reaction was mixed, with opposition leaders dutifully highlighting the pitfalls, and it appeared that Hammond had been told to polish his act, for he told a few jokes here and there. Many missed the mark, but when discussing driverless vehicles, he alluded to the fact Jeremy Clarkson detests them and said “I’m sorry, Jeremy, but I know it’s not the first time you’ve been snubbed by Hammond and May.” I have to admit – that’s pretty good (even if others weren’t quite so polite).
One noteworthy concession was his announcement that he will bring forward the uplifting of business rates by the CPI inflation index and not RPI. He claimed this will save businesses £2.3 billion per year which, if true, will satisfy many around the UK.
Today sees a major release in the form of GDP growth figures, but we will also see the business investment figures. Tomorrow, we will end the week with the mortgage approvals for October.
