Monday, 21 November 2016

Mute Chancellor To Speak

 
You would be forgiven if you struggled to name who the Chancellor is currently, such is the quietness in which he operates. But fear not……Philip Hammond has no choice but to speak, give us some (hopefully clear) direction and generally play his political straight bat on Wednesday for the Autumn Statement.
 
Given his lack of voice since being appointed 4 months ago, it is difficult to understand where he will take us with his first Autumn Statement.
 
He is almost certainly likely to cut growth forecasts for the UK economy, which is likely to lead to the public debt and deficit getting bigger. That leaves him with the only options being to increase spending or cut taxes to boost the economy. Or both maybe?
 
There is likely to be a priority on spending on new homes and transport rather than following his predecessor George Osborne's aim to balance the books by 2020.
 
It’s fair to say that he isn’t a fan of what has gone before and he has pretty much ripped up most of George Osborne’s policies (and they are from the same political party!!!). Yet he has done this way below the radar by not being seduced by the power that the positon brings. It may be dangerous but it is also a welcome change of tact.
 
The radar dodging has come to an end and his voice will be heard this Wednesday.
 
All will become clearer……hopefully.

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