Maas: Chancellor made little impact in Budget

Philip Hammond's policy announcements in the Budget 2017 will ultimately have little impact, says CBW tax partner Robert Maas

Now that we have had a couple of weeks to think about the Budget, it still seems as odd — or perhaps unfocused – as it did on first sight.

It was always going to be a difficult budget for the Chancellor, Philip Hammond. He started with two major problems that virtually dictated that he try to preserve available cash reserves; the Office for Budget Responsibility’s downgrading of its forecast productivity growth from 2% to around 1.5% for every one of the next five years, and the uncertainty created by Brexit.

He also faced the political need to do something to try to push back the growing popularity of the Labour party. In particular, he needed to show that he cares about disaffected young people, a major impetus in the surge in Jeremy Corbyn’s popularity, and the travails of the struggling (at least in their own minds) middle classes.

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