Chancellor Philip Hammond Wins Heart and Minds With Windfall Cash But Corbyn Fights Back With a Professional Concise Response

Monday 29 October, 2018 Written by 
Chancellor Philip Hammond Wins Heart and Minds With Windfall Cash But Corbyn Fights Back With a Professional Concise Response

 A quick round up regarding the budget in regards to welfare claimants is:

  • Work allowances for universal credit to be increased by £1.7bn
  • 2.4 million working families with children to benefit by £630 a year
  • An extra £1bn to help welfare claimants transfer to the new consolidated benefit
  • Chancellor insists controversial system is "here to stay"

New measures are going to be announced soon by Esther McVey. The forecasts for increasing employment and lowering unemployment looked very positive. This could all change however if there is a no deal BREXIT. 

What does not look so bright in the coming years are the growth targets and these have been downsized.

Employment Growth Prospects:

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Image: Employment is set to grow but BREXIT could change all that. 

Theresa May’s hope is that by turning on the taps she can neutralize the threat of Jeremy Corbyn’s anti-austerity rhetoric, but Corbyn in turn delivered a blistering performance following Chancellor Philip Hammond's speech. At times the PM looked like a French Sea Captain at the Battle of Trafalgar as volley after volley hit its mark. Corbyn was well prepared and he looked really on form. A more generous budget. Austerity is far from over and it is too premature to start singing 'let the good times roll'. 

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