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Latest Industry News

29 Oct 2018

Addressing the House of Commons, Chancellor Philip Hammond stated that the 2018 Autumn Budget was one ‘for Britain’s future’, highlighting how ‘the perseverance of the British people’ is finally paying off.

However, Labour Party leader Jeremy Corbyn labelled the Budget as a ‘broken promise Budget’, full of ‘half measures and quick fixes’.

He added: ‘And far from people’s hard work and sacrifices having paid off, as the Chancellor claims, this government has frittered it away in ideological tax cuts to the richest in our society.’

Meanwhile, Vince Cable, leader of the Liberal Democrats, said that the Budget acted as a ‘sticking plaster’, stating that more cash is needed to end austerity – up to £19 billion would be required, he said, referencing figures produced by the Institute for Fiscal Studies (IFS).

The Green Party too were disappointed with the Budget. Green MEP for the South West, Molly Scott Cato, responded to the Budget, saying: ‘Rather than action to avert climate breakdown we saw the Chancellor accelerate faster towards it, throwing £30 billion at road building and freezing fuel duty for the ninth year running.

‘This now amounts to a £9 billion tax give-away, enough to reverse all Conservative benefit cuts of the past eight years.’

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