Not a red briefcase in sight today as Chancellor of the Exchequer Philip Hammond unveiled Britain’s inaugural ‘spring statement’—more of a non-budget placeholder designed to tide the government over until autumn’s real deal.
Huge swathes of Britain’s services are stretched to breaking point. Our schools are strained, hospitals underfunded, and inflation is choking living standards.
While Hammond’s spring statement provided an optimistic view of our economy ahead of the autumn statement—growth will be 1.4 percent this year, 0.1 percent higher than forecast—there’s still much work to be done.
Poverty is rife. Although there’s been movement on housing, with Hammond earmarking more housing cash, we would like to see more and faster action.
We want to an end to rip-off lenders, punishing the poorest. We’d like to see the funds from the dormant bank accounts retrieval be used to help social investment for good and help expand ethical lending and equitable credit facilities for the poorest in society.
We also need more clarity on what the government plans to do in battling in-work poverty. Working is the best way out of the poverty trap and it needs to pay.