After years of grim and penny-pinching Budgets, we must say — nice one Chancellor
Phil our boots
WE’RE in shock. Years of grim, penny-pinching Budgets and the most cautious Chancellor in living memory did not prepare us for yesterday’s feast of crowd-pleasing giveaways.
Like the bumper tax cut for 32million workers, a year earlier than promised.
The £20billion NHS injection, the £1billion bailout for defence, hundreds of millions for our pock-marked roads and hard-up schools. Another £1.7billion to iron out Universal Credit problems. A near five per cent hike in the minimum wage. A big, welcome cut in business rates for struggling firms.
New ideas flowed: a levy on web giants’ UK revenues, potentially raising £440million, is long overdue — though Philip Hammond must ensure the burden does not fall on online shoppers.
There was major funding to help councils transform our hollowed-out High Streets, including turning vacant shops into homes. A huge increase in firms’ annual investment allowance will let them deduct from taxable profits up to £1million spent on tools and machinery.
Heathrow’s e-gates will now speed up entry for visitors from the US, Canada, Australia, New Zealand and Japan as well as Europe — a symbol of a global Britain open for business.
Some bad ideas The Sun has criticised, including the proposed “latte levy” on plastic cups, were binned. Duty was frozen again on fuel, as well as beer.
Even the OBR’s normally pessimistic forecasts were on Mr Hammond’s side. Growth is predicted to rise steadily, albeit too slowly. Unemployment is set to fall to its lowest in 40 years.
We wish the Chancellor had outlined more radical, visionary low-tax measures. He will need them should Brussels shove us into a no-deal Brexit. But that gripe aside, what was not to like?
The Tories must not try to ape Corbyn’s £1trillion spending fantasy. But it is not “Corbyn-lite” to spend billions fixing Britain’s most pressing problems, even if we are still running a deficit.
As for Corbyn himself, it was obvious he took in barely a word of the Budget.
In his “response” he merely recited his normal scripted complaints, flubbing his words and shouting randomly, as is now traditional. He somehow contrives to make even this chaotic Government look like a model of competence.
Budgets often unravel when acres of small print are finally scrutinised.
But for now… nice one, Chancellor.
Merked it up
ANGELA Merkel is a once-brilliant politician scuppered by an arrogant disregard for voters.
For years she was admired worldwide. Then she flooded Germany with a million migrants, enraging the public, fuelling extremism and sealing her own downfall.
Don’t expect Brussels to learn from it.
Their contempt for citizens is even worse. And it will do for them too.