A mixed reaction to chancellor's spring statement

14 March, 2018, 06:29 | Author: Terri Saunders
  • Philip Hammond

The Chancellor's Spring Statement has been cautiously welcomed by Cumbria's financial experts.

The Government's official forecaster has upgraded projections for growth and predicted falling inflation, debt and borrowing, in a boost for Chancellor Philip Hammond.

He reported lower-than-expected economic gains, with GDP forecast by the Office for Budget Responsibility to be up 1.5 per cent this year, 0.1 percentage points higher than its November estimate, ...

Meanwhile, Gillian Marshall, chief executive at the Gateshead-based Entrepreneurs' Forum, said while Mr Hammond had given industrialists "small nuggets" to deliberate, he must use his Spring Statement as a springboard to deliver a strong Autumn Budget later in the year. That is the "light at the end of the tunnel" Mr Hammond has been talking about.

The OECD today also forecast that the United Kingdom would be the slowest growing member of the G7 in 2018 with growth of 1.3 per cent. With over 50% of Cambridge's growth in the next three years forecast to come from Information and Communications Technology (ICT) and professional services, investment in these areas will be vital to maintaining this trajectory. The forecast for 2019 and 2020 is unchanged at 1.3%, before picking up to 1.4% in 2021 and 1.5% in 2022.

UK Music did welcome a separate initiative by the Chancellor to provide £80 million for small and medium businesses to recruit apprentices, which Dugher said would help music companies when recruiting and upskilling their workforce.

Hammond said he is bringiing forward the next business rate revaluation. also cutting business rates.

Larry Page's air taxis are already flying above New Zealand
But those countries have never been seen as models for aviation regulators in the rest of the developed world. Countries in the Middle East and Africa have been more willing to allow unmanned flights.


"Someone who'd missed the Chancellor's protestations over the last few weeks would be forgiven for not realising that we'd moved from a Spring Budget to a Spring Statement".

The government is set to run a "small" surplus on day-to-day spending in 2018/19, borrowing only for capital. The economy could implode if the Government doesn't walk that fine line. On the other hand, the minute austerity is declared over, it makes it harder for the Conservatives to go hard in attacking Labours supposed spend-thrifty instincts.

"There were some good things in the statement - not least the backing for better broadband".

Richard Miller, head of property at Burnetts, said: "It is reassuring to see that in times of uncertainty, the underlying economy is growing".

On the current course assumed by the OBR, the financial settlement required to leave the EU and spending to replace European funding in the United Kingdom will cost the country just as much as full membership.

"From a Cumbrian perspective, we must focus our efforts on submitting a robust bid for part of the potential £840m fund being made available for investment in local transport with an obvious opportunity being improving links between Carlisle and Britain's Energy Coast".

She added: "It is important that any financial investments be made where they can be most effective in driving change, such as reform of the current United Kingdom producer responsibility system for packaging".

Recommended:

  • Iowa Lawmaker Resigns After Video Emerges of Him Kissing a Lobbyist

    Iowa Lawmaker Resigns After Video Emerges of Him Kissing a Lobbyist

    Dix's resignation came after the Iowa Starting Line website posted a video showing him kissing a female statehouse lobbyist. Neither Dix nor the lobbyist responded to requests for comment from The Associated Press or WHO TV.
    7K pairs of shoes placed near US Capitol for child gun victims

    7K pairs of shoes placed near US Capitol for child gun victims

    Capitol this morning in memory of the children whose lives have been lost to gun violence since 2012's Sandy Hook shooting . On that day, a total of 20 children and six adults were killed in the shooting at Sandy Hook Elementary School in CT .
    South Africa v Australia: Kagiso Rabada banned for rest of series

    South Africa v Australia: Kagiso Rabada banned for rest of series

    Rabada took 5/96 and 6/54 in South Africa's six-wicket win that levelled the four-match series at 1-1 with two to play. It's the same as with Lord's - I didn't try and appeal [the charge] because I knew I did it".
  • Rex Tillerson cuts short Africa trip to return to Washington

    Rex Tillerson cuts short Africa trip to return to Washington

    Tillerson says Chad has taken important, positive steps to strengthen control over its passports and improve information-sharing. NAIJ.com previously reported that Tillerson would arrive in Abuja on Monday, March 12 for his first official visit to Nigeria.
    Arizona Bride Got Busted For DUI On The Way To Her Wedding

    Arizona Bride Got Busted For DUI On The Way To Her Wedding

    An occupant in one of the other vehicles sustained minor, non-life threatening injuries, and was sent to a hospital, Scott said. She was handcuffed and put into the back of a police auto at 10.30am yesterday in Marana, Arizona, 30 miles north of Tuscon.
    GOP struggles to ignite Pennsylvania Trump voters in tight race

    GOP struggles to ignite Pennsylvania Trump voters in tight race

    The Congressional Leadership Fund, for example, provided 50 door knockers and spent more than $3.5 million on the election effort. Meanwhile, President Donald Trump and Saccone have both used the tax plan heavily in their messaging to voters in the district.
  • Bomb blast targets Palestinian PM's convoy in rare Gaza visit

    Bomb blast targets Palestinian PM's convoy in rare Gaza visit

    Other Hamas supporters said they had good reason to believe that the assassination attempt was "calculated and pre-planned". In a series of tweets from Hamas' account, the Islamist movement said, "We condemn the crime of targeting the convoy of Dr.
    My best is still a long way off: Serena

    My best is still a long way off: Serena

    Serena Williams' first official tournament since becoming a mom in September was cut short by older sister Venus in Indian Wells . She missed a handful of basic shots in the first set and couldn't get her serve going the way she typically did in the past.
    Mattis just made a surprise visit to Kabul

    Mattis just made a surprise visit to Kabul

    Mattis said the goal was to convince the Taliban that they could not win, which would hopefully push them towards reconciliation. These and other moves boosted the number of US troops in Afghanistan by at least 3,500, to a total of more than 14,000.
  • Matt Patricia's Detroit Lions Reportedly Interested In Malcolm Butler

    Matt Patricia's Detroit Lions Reportedly Interested In Malcolm Butler

    Throughout his tenure in New England, Butler tallied 209 combined tackles, 50 defended passes, eight interceptions and two sacks. The New Orleans Saints pursued Butler as a restricted free agent previous year , but the trade price was too high.
    Saudi royals tackling corruption, or just cashing in on foes?

    Saudi royals tackling corruption, or just cashing in on foes?

    Saudi Arabia themselves have qualified for this summer's World Cup in Russian Federation - while Iraq missed out. One former detainee, forced to wear a tracking device, has sunk into depression as his business collapses.
    2nd lawsuit filed over lost embryos at hospital

    2nd lawsuit filed over lost embryos at hospital

    The Ash family said they still have many unanswered questions regarding the failure, even after speaking with two physicians. But there's no way to know until the eggs and embryos are thawed - and they can't be safely re-frozen.


Popular

Kabando wa Kabando: I have been vindicated after Uhuru-Raila talks
The leaders refused to field questions from reporters, but reiterated that they were never opposed to national dialogue. Bodyguards were withdrawan in early February after the "swearing-in" of Odinga as "people's president".

Alexa now allows you to place calls and send messages on tablets
Alexa is Amazon's artificially-intelligent smart assistant platform used in its Echo products and other compatible hardware. Also, there are other limitations such as needing to have an Echo if you would like to call mobile or landline numbers.

Met sacks conductor Levine over sex abuse
The move comes after Levine was suspended in December following a report detailing the allegations in the New York Times . The Met did not release the specific findings of its investigation, which it said had included interviews with 70 people.

ICON builds a 3D house in under 24 hours
The home was presented very recently, in March 2018, in Austin, Texas, and the printer is now packaged for the developing world. ICON has built up a technique for 3D-printing of a solitary story 650-square-foot house out of cement in only 12 to 24 hours .

Drew Brees, Saints agree on two-year, $50 million deal
If the Saints hadn't reached a deal with Brees, $18 million of prorated signing bonus would have gone onto the deal as dead cap. They have their quarterback back and Brees will most assuredly now end his career with the Saints.

Canada's PM bids to reassure aluminum workers about USA tariffs
Trudeau also said it was in part due to the hard work of Canadian officials that Trump exempted Canada from the tariffs last week. But both Mexico and Canada have rejected Trump's linkage of the levies to the ongoing NAFTA talks.

Kompany eyes once in a lifetime opportunity
Stoke did begin aggressively in the hope of suffocating City but the visitors soon stretched them by playing a few longer passes. City cruised to a straightforward 2-0 win over Stoke City on Monday, with David Silva scoring both goals at the bet365 Stadium.

Russian exile Nikolai Glushkov found dead in London home
A Russian businessman and an associate of the one-time billionaire Boris Berezovsky, Nikolay Glushkov, has died in London . Police say there is no evidence to suggest a link to the March 4 poisoning of former spy Sergei Skripal and his daughter.

PSG top brass in talks with NEYMAR on having him stay put
He is also in a race against time to be fit for the World Cup in Russian Federation , which begins on June 14. On the 400 million, they paid 220 million and when they bought me they paid 72. " Neymar has a future at PSG".

Myanmar militarizes the area from which the persecuted Rohingya fled
On Monday, the UN's Special Rapporteur Yanghee Lee also said Myanmar's government appeared to be pursuing a policy of starvation. The statement is casting doubt on the country's plans to repatriate hundreds of thousands of refugees.