Daniel Mahoney, Head of Economic Research at the Centre for Policy Studies, responds to the Spring Budget:
“It is welcome that, despite the UK’s borrowing forecasts improving, the Budget 2017 was not full of giveaways. Furthermore, although changes around national insurance and the tax-free dividend allowance will have an impact on UK competitiveness, the recommitment to cutting corporation tax to 17% by 2020 will help ensure that the UK remains open for business.
However, the most encouraging aspect of this Budget was on education where Hammond asserted that ‘choice is the key to excellence in education’. This is absolutely right. The announcement of further funding for new free schools and grammar schools along with the promotion of technical education with the introduction of ‘T-levels’ will offer welcome choice to parents, while helping boost the long-term skills and productivity of the UK.”