Daily Archive: March 7, 2017

Mar
07

Six key charts you need to make sense of the budget

Figures show public finances are looking in better shape – but Philip Hammond is likely to hold money back to help weather Brexit

Philip Hammond will deliver his spring budget against the backdrop of a weak pound, rising inflation and growing worries about a squeeze on households.

The chancellor is expected to unveil a brighter outlook for growth than at the time of his autumn statement in November.

Continue reading…

Mar
07

Shami Chakrabarti: austerity is a feminist issue – video

Women are massively more affected by budget cuts than men, says the Labour peer. They are more likely to be single parents, earn less and work part time than their male counterparts. She argues the government must replace ‘gender-neutral’ budgeting with economic policies that put women first

Continue reading…

Mar
07

Budget will hold no big surprises on spending or tax, chancellor says

Philip Hammond denies big changes in spring budget as UK economy continues to perform strongly. But what does that mean for public finances?

Philip Hammond has played down the significance of the spring budget and denied he plans to surprise parliament with big spending plans or tax reforms.

This was always going to be a “just in case” budget, only bursting into life should the public finances need rescuing from a further slowdown in the economy. But the economy is performing strongly, even as it slows, leaving the chancellor to continue where he left off in the autumn statement: focusing on relatively limited measures to improve the UK’s infrastructure, skills and education.

Related: Six key charts you need to make sense of the budget

Continue reading…

Mar
07

Hammond gets budget boost as OECD upgrades UK growth forecast

UK expected to grow faster than thought in 2017 but chancellor urged to support jobs amid fears over inflation and house prices

The west’s leading economic thinktank has raised its outlook for the UK this year, in a boost to Philip Hammond ahead of his budget. But the Organisation for Economic Cooperation and Development said it still expected Britain’s economy to shift down a gear compared with last year as rising inflation hits households.

The Paris-based organisation predicts that after expanding 1.8% in 2016, the UK economy will grow 1.6% this year. That is faster than the 1.2% it was predicting in late November. It made no changes to its earlier forecast for growth to slow further in 2018 to just 1% – which would be the weakest performance since the depths of the global financial crisis in 2009. It also highlighted rapid house price growth in the UK and other countries as a potential warning sign of another economic downturn.

Continue reading…

Mar
07

Ask GFC 028: Using a Roth Conversion to Minimize the “Widow’s Penalty”

Older posts «