On Wednesday 8th March 2017, the British Chancellor of the Exchequer delivered his first full budget since he took over the role of Chancellor. In a wide ranging speech he presented a review of UK economic growth prospects, outlined investment in education, social care and research and technological development, and revised national insurance contribution rules for the self-employed.
The revised forecasts for economic growth and Public Sector Net Borrowing (PSNB) were welcomed by the City, even though the forecasts for GDP growth are higher this year but drop sharply next year and only recover to 2% in 2020.
The implications of the Chancellor’s first budget for key policy areas such as health and housing will be analysed in full in the coming days and weeks. In the meantime, here is our 65 second video analysis.