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 👍

This page is a permanent link to the reply below and its nested replies. See all post replies »

Picklebobble2 · 56-60, M

Well Reeves was on a hiding to nothing the second she took the job.
There never was a magic button to fill the hole in the economy.

Labour's 'deceit' was that they had BOTH eyes on the prize of government while not being entirely honest on just how they would address filling such a hole without upsetting somebody.

The fact Reeves chose to upset everyone as equally as she could rather than pick on sections of society that wouldn't vote Labour at any price (the traditional Tory route) to rinse for the lions share, was pretty good.

The IMF and the bank of England seem 'relatively' happy but both are worried that any growth in the current Parliament is unlikely.
And it's how you move on from that position to one of better investment in the UK that occupies most independent economic thinking.

SunshineGirl · 36-40, F

@Picklebobble2 Such is the lot of a politician. The Budget is a muddle and a compromise, as any democratic financial plan should be. But it is at least looking to the longer term (which we haven't done for ages) and there are people in government with independent ideas . . for when the time is right.