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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