Spring Budget 2017: Hammond to build ‘foundations of a stronger, fairer, better Britain’

Chancellor Philip Hammond is expected to lay out an “upbeat” message for a post-Brexit Britain in his first Spring Budget.

The Chancellor will use his speech today (March 8) to highlight how the UK’s economy has remained resilient since last June’s EU Referendum.

He is also expected to admit that while many families across the country are “feeling the pinch”, some “difficult decisions” must be made on tax increases and spending cuts in what is otherwise forecast to be a fiscally neutral Budget.

Extra spending, however, is due on social care in England and to support companies facing a spike in business rates.

The Government has faced calls for a hardship fund to help the thousands of companies facing, in some cases, increased bills of over £1,000 a year.

Business groups have also asked for smaller firms to be excluded from having to pay rates.

The Government has since confirmed that the majority of companies will not see their bills rise, insisting that many will actually pay less.

According to the BBC, the Treasury said in a statement that Mr Hammond’s “upbeat assessment” of the UK’s future would offer a “positive backdrop ahead of the start of new chapter for the country outside of the EU”.

It continued: “He will say that in building the foundations of a stronger, fairer, better Britain, outside the EU - the government understands the concerns of those who worry about their children’s ability to access the opportunities they themselves enjoyed.

“He will go on to say he knows that many are still feeling the pinch, almost 10 years on from the financial crash and that the Government will do everything it can to help ordinary working families to get on.”

Be sure to tune in to Bdaily’s Twitter feeds (@BdailyNorthEast, @BdailyNorthWest, @BdailyYorkshire and @BdailyLondon) for live coverage of the Spring Budget from 12:30pm today.

In the meantime, get up to speed with our forecast roundups from business leaders across the North East, North West, Yorkshire and London.

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