On 22 November the Chancellor will stand up in front of Parliament to deliver the first Budget of the UK’s newly formed Government.
The timing of this Budget is challenging and comes at a critical time for the UK economy, with continued uncertainty surrounding the outcome of the negotiations for the UK’s exit of the EU. The outlook for the UK economy over the next two years as well as concerns around the social cost of austerity will be top of the Chancellor’s mind.
While the UK economy has been resilient since the EU referendum, more recent data has shown a slowing in economic growth as inflation erodes household incomes in real terms. The CBI latest economic forecast expects slower consumer spending and subdued business investment, with GDP growth of 1.6% in 2017 and 1.4% in 2018. A recent CBI survey also showed that Brexit is having a negative impact on the investme