With his position in Cabinet reportedly on the line, Chancellor of the Exchequer Philip Hammond has delivered an Autumn Budget which he claims will prepare Britain for Brexit.
Hammond told the House of Commons that his budget prepares Britain to “seize the opportunities” from Brexit — although he has appeared to resist releasing funds to prepare the country properly for a ‘No Deal’ scenario up to now, particularly with respect to strengthening border and customs controls.
As the Cabinet’s strongest advocate for a partial Brexit which would keep the UK in the EU’s Customs Union and Single Market, critics suspected Hammond’s failure to prepare was deliberate — but he revealed today that £700m has already been spent getting ready for Brexit, and that a further £3bn has been set aside, with the possibility of more if it is needed.
it's almost as if Hammond doesn't want Britain to leave the EU at all https://t.co/sSFDtWFMtS
— Breitbart London (@BreitbartLondon) July 18, 2017
The chancellor painted Britain’s prospects in a positive light, emphasising that, “For the first time in decades, Britain is genuinely at the forefront of a technological revolution, not just in our universities and research institutes, but this time in the commercial development labs of our great companies and on the factory floors and business parks across the land.”
He put a strong emphasis on delivering for young people, first by announcing a cheaper rail travel for people up to the age of thirty, and then, more sensationally, announcing the abolition of stamp duty for first-time buyers on houses below £300,000 — achieving a saving of £5,000.
BUDGET: Income tax personal allowance will be raised to £11,850 and the higher rate threshold to £46,350 from April next year
— LBC Breaking (@lbcbreaking) November 22, 2017
An increase in the income tax personal allowance to £11,850 and the lifting of the higher rate threshold to £46,350 from April 2018 will also be welcomed by many, as will tweaks to VAT for police and fire services in Scotland, among other specific measures.
Schools and colleges are said to be in line for an extra £600 for every pupil who takes A-level maths, as part of a wider package of policies to encourage educators to push the subject, along with support for technology teaching and qualifications.