- Created: Thursday, 06 April 2017 11:34
- Written by David Yaffe
The change of Chancellor and the decision to leave the European Union (EU) did not alter the timeworn formula underpinning the Budget speech. As usual there is little correlation between the exaggerated claims for the state of the British economy and the stark, grim reality of millions more working class people driven into low-paid jobs, confronting failing public services and increasing poverty. David Yaffe reports.
On 8 March, in his first Budget speech, Chancellor Philip Hammond spoke of a British economy that ‘has continued to confound the commentators with robust growth’; which ‘delivers further investment in our public services’; ‘extends opportunity to all our young people’; has ‘a labour market delivering record employment’, and ‘a public sector deficit down by over two-thirds’ as it ‘continues the task of getting Britain back to living within its means’. It is an economy, he said, that provides ‘a strong and stable platform’ for Britain’s negotiations to exit the EU while ‘building the foundations of a stronger, fairer, more global Britain’.1 The reality is markedly different.