Despite reporting some improved economic growth, Chancellor Phillip Hammond maintained the need to “stick to plan”; we’re back to balancing the books. NCVO report that “while the chancellor projected a vision of strength for the UK economy, the overall context for charities remains one of austerity well into the next parliament, with a further £3.5bn of departmental cuts due to be announced later in the year.”
There were announcements about funding for social care, and organisations working with young people not in education, training or employment will be interested to learn about new T Levels, which aim to create a clearer path to employment. Social entrepreneurs will be affected by changes to National Insurance Contributions. This was a bits and pieces budget with no major policy changes, but a few modest giveaways here and tax rises there.
The Budget was notable for what the Chancellor did not include: there was no mention of rural affairs, welfare or housing. It is anticipated the Autumn Budget will include more policy announcements, once Brexit negotiations have begun. This will be the last Spring Budget and will be replaced in future years by a Spring Statement, with once yearly Autumn Budget.
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