Honestly, I’ve been dreading today. With all the discussion in the press over the last few months of massive cuts to public services and spending, talk of hiking up taxes when people are already struggling, and knowing that the state of the UK’s economy–£2.8tn in debt and with a £22bn black hole–meant that tough decisions were inevitable. Having listened to the Chancellor’s speech in the commons my overwhelming feeling is one of relief.
There will be weeks of poring over the detail, but the key takeaways from today are pretty clear:
- The OBR are clear that the Budget will deliver long-term economic growth, exactly as Labour promised
- The Budget will fill in the black hole and rescue public finances
- There will be no return to Austerity and new investment in public services where needed
- Taxes will be going up, but on the broadest shoulders, for the majority of people taxes will be remaining the same and actually in some areas they will decrease
- The Government are set to deliver some of the largest investment in infrastructure in history, enabling us to rebuild the country for the future
As with every Budget there are winners and losers and the losers clearly won’t be happy, but this was the Budget which Britain needed right now to clear up the current mess and deliver national renewal.
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Peter Lamb for Crawley 