• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
No Result
View All Result
The London Economic
No Result
View All Result
Home News

Forget Hammond’s optimism – There is no “light at the end of the tunnel” for families across the country

Philip Hammond’s Spring Statement was characterised by dangerous complacency and offers no light at the end of the tunnel for families across the country, according to Positive Money Executive Director Fran Boait.  The Chancellor attempted to deliver a more upbeat statement amidst the uncertainty that surrounds the UK economy, pointing to signals for stronger growth and falling […]

Jack Peat by Jack Peat
2018-03-13 13:48
in News, Politics
FacebookTwitterLinkedinEmailWhatsapp

Philip Hammond’s Spring Statement was characterised by dangerous complacency and offers no light at the end of the tunnel for families across the country, according to Positive Money Executive Director Fran Boait. 

The Chancellor attempted to deliver a more upbeat statement amidst the uncertainty that surrounds the UK economy, pointing to signals for stronger growth and falling inflation.

But his sentiment hasn’t been as warmly received as he might have hoped.

John McDonnell accused Philip Hammond of ‘complacency’, saying he “hasn’t he listened to the doctors and nurses, the teachers, the police officers, the carers and even his own councillors?

“They are telling him they can’t wait for the next Budget. They’re telling him to act now.

“For eight years they’ve been ignored by this government. And today – they’ve been ignored again.”

Boait, from not-for-profit Positive Money which campaigns for a money and banking system that supports a fair, sustainable and democratic economy, was equally pessimistic about the UK’s long-term prospects. 

RelatedPosts

Stanley Johnson who now says Brexit was ‘probably a good idea’ is French citizen – reactions

School food portions could shrink as best academy trusts would not go north

Peter Hitchens writes ‘why England should leave the UK’ leaving people bemused

Tory MP accuses female journalist of being ‘hysterical’ and this response is amazing

She said: “Today’s Spring Statement was characterised by dangerous complacency from the Chancellor. While public borrowing may be down, households across the country are falling deeper into the red. The continuation of austerity has taken money out of people’s pockets, which they’ve had to make up for with increased borrowing. As a result, private debt now amounts to 170% of GDP, providing a far bigger drag on the economy than the much worried about public debt, which stands at 85%.

“Despite Philip Hammond’s cheerier outlook, there is no ‘light at the end of the tunnel’ for families across the country. The latest figures show credit card borrowing growing by the largest amount since the run-up to the crisis, and households will only be plunged deeper into debt, with benefit freezes still scheduled to go ahead in April.

“The Chancellor’s speech today was an opportunity to address Britain’s ticking private debt timebomb. There should have been pledges to deliver the investment in housing, infrastructure and public services that the country is crying out for, which would in turn put more money into the real economy and people’s pockets.”

RELATED 

The Brexit assessments the Government didn’t want released have been published – now everyone can see what they were hiding

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

‘Fix the broken welfare system’ as number affected by benefit cap surges

‘Brexit dividend in human form’ Reactions to pic from Farage’s misleading interview

Police officer keeps job after sending pic of man trying to post letter through eye opening of burqa

Nazi Germany based its elite schools on Eton and Harrow

Covid-19: Almost 950,000 people apply for Universal Credit in two weeks

Police confirm body found in Epping Forest lake is Richard Okorogheye

Tories accused of using Covid vaccines to slash aid budget ‘on the sly’

Far right “hire ship” to disrupt search-and-rescue missions in the Mediterranean

WATCH: Jeremy Vine asks, have UK shortages been caused by Brexit?

Beer of the Week: UnBarred Cold Pressed Summer Stout

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.