Britain braces for first budget since Brexit vote

AFP, LONDON: Britain today delivers its first budget since the Brexit referendum, with economists expecting a slight shift away from years of austerity as the nation readies its EU exit strategy.
The Conservative government’s finance minister Philip Hammond will deliver his so-called Autumn Statement before parliament around 1230 GMT Wednesday— exactly five months after the Brexit vote.
“We need to be match fit for the opportunities and challenges” arising from Brexit, Hammond declared on Sunday, while warning that Britain still faced an “eye-watering” deficit.
Prime Minister Theresa May has vowed to trigger Britain’s exit from the European Union by the end of March, after disaffected British voters sent shockwaves across the world in the June 23 referendum by choosing to leave the bloc.
Some economists argue that Donald Trump’s shock election as US president could similarly persuade May’s administration to do more to help workers who have felt shunned by government policies.
“May has made it clear that she wants to prioritise helping those households who are struggling to get by and who feel left behind by the economy’s recovery since the 2008/9 slump,” said IHS Markit economist Howard Archer.

Britain braces for first budget since Brexit vote

AFP, LONDON: Britain today delivers its first budget since the Brexit referendum, with economists expecting a slight shift away from years of austerity as the nation readies its EU exit strategy. The Conservative governments finance minister Philip Hammond will deliver his so-called Autumn Statement before parliament around 1230 GMT Wednesday exactly five months after the Brexit vote. We need to be match fit for the opportunities and challenges arising from Brexit, Hammond declared on Sunday, while warning that Britain still faced an eye-watering deficit. Prime Minister Theresa May has vowed to trigger Britains exit from the European Union by the end of March, after disaffected British voters sent shockwaves across the world in the June 23 referendum by choosing to leave the bloc. Some economists argue that Donald Trumps shock election as US president could similarly persuade Maysadministration to do more to help workers who have felt shunned by government policies. May has made it clear that she wants to prioritise helping those households who are struggling to get by and who feel left behind by the economys recovery since the 2008/9 slump, said IHS Markit economist Howard Archer.