We are boxed in by bonds and the chancellor’s promises

By Simon Rawlinson2023-12-04T06:57:00

Jeremy Hunt’s success in calming financial markets with the autumn statement leaves a lot of unanswered questions observes Simon Rawlinson of Arcadis

Jeremy Hunt set out to achieve three overriding but conflicting goals as he presented his 2023 autumn statement last month. The obvious takeaway was the rabbit from the hat, the unexpectedly high cuts in national insurance rates, which highlighted that his immediate and most important objective was to create election-winning momentum.

By contrast, a blizzard of incremental business-friendly measures, including the extension of full expensing, demonstrated the limited resources available to the UK to drive growth. Finally, an improbable projection of tight growth in spending, right through to 2028/29, aimed to keep the bond markets on side by demonstrating ruthless fiscal discipline.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN

Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

Limited access to building.co.uk
Breaking industry news as it happens
Breaking, daily and weekly e-newsletters

Get your free guest access SIGN UP TODAY

Subscribe now for unlimited access

Subscribe to Building today and you will benefit from:

Unlimited access to all stories including expert analysis and comment from industry leaders
Our league tables, cost models and economics data
Our online archive of over 10,000 articles
Building magazine digital editions
Building magazine print editions
Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community