Assessment of UK autumn budget

No huge headlines, everyone seems marginally disappointed, financial markets have not (yet) blown up . . all in all to be judged a success 👍

Difficult to detect a unifying theme. The government pins hopes on facilitating economic growth and using higher tax receipts to rebuild our public services after 14 years of neglect. But the medium term forecast for growth is modest at best.

There is a marked redistribution of wealth from older asset owners to the struggling young via increases to the minimum wage, increases in capital gains tax, and freezing of the inheritance tax thresholds. A good start and hopefully the foundation of a more radical shift in inter-generational wealth that will be needed to preserve harmony in a rapidly ageing society.

Lots of compromises, lots of disappointments, but nothing unexpected for a centrist government.

A pretty good effort for our first ever female Chancellor of the Exchequer 👍

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ArtieKat · M

all in all to be judged a success 👍

Only time will tell. I tend to side with the sceptics who think that wages of employees of SMEs will stagnate, inflation will rise again as SMEs are unable to absorb the increased costs of NMW and Employers' NI and raise prices. Look forward to the £10 pint.

With Social Care and GP surgeries not exempt from those same rises, staff numbers will be cut - with some surgeries and homes predicted to close in the short-term - adding pressure back on to the NHS, with elderly patients unable to be discharged from hospital.

SunshineGirl · 36-40, F

@ArtieKat Hopefully there will not be another supply-side shock on the scale of 2022-23, although that is a big hope.

Money is being put into the pockets of the poorest, who it is assumed will spend it immediately on daily necessities where market competition is already most intense. The rapid circulation of wealth into the economy, rather than savings accounts and pension pots, will drive growth and support jobs. On the other hand, private rents may be driven upwards if we are unable to match demand with supply.

If inflation remains under control, wages should become more stable (one of the biggest costs in the Budget was a pay settlement so public sector workers did not fall further behind private sector counterparts).

ArtieKat · M

@SunshineGirl I remain on the side of the sceptics - particularly after reading further analysis in the Sunday Times this morning