The Chancellor rightly concentrated on three key themes – aspiration, simplifications and making Britain an attractive proposition for investment. He failed, however, to properly see these through.
The limited tax cuts are welcome, as is the simplification to corporation tax. The reality, however, is that there remains a need for substantial supply side reform across planning, childcare and energy if costs are to be brought down.
One of the key lessons to be learnt from this recession is that the government should not be underwriting the housing market. The announcements made by the Chancellor today on housing are storing up big trouble for the future and are unlikely to make a meaningful difference to the chronic housing affordability crisis we have in the UK.
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