Pragmatic Budget for Brexit Britain

Yesterday afternoon (29 October) the Chancellor of the Exchequer, Rt Hon Philip Hammond MP, delivered his Budget Statement. Rt Hon Sir David Evennett, MP for Bexleyheath and Crayford, was among MPs in the House of Commons Chamber listening to the Statement.

The Chancellor reported that:

  • Economic growth has been revised up from 1.3% to 1.6%
  • Employment has been revised up, with 800,000 more jobs in 2023 than previously forecast
  • Wages are set to rise above inflation in each of the next five years
  • We have met our borrowing target three years early
  • We have also met our debt target three years early

Sir David spoke during the debate on the Budget Resolutions to highlight his support for the previous announcement of £20.5 billion more in real terms for the NHS by 2023-24 as well as the additional £2billion for mental health funding, the increase of the Personal Allowance to £12,500 and to £50,000 for the Higher Rate Threshold one year ahead of schedule, and more money for roads and repairing potholes.

Sir David commented: “The Treasury team have done a good job of putting together a Budget that is constructive, positive and looking forward. The Chancellor of the Exchequer has put forward an interesting Budget. It comes at an important time for our country, because on 29 March next year we will leave the European Union. We need him to be upbeat and confident about our future; I certainly am. I believe that Britain will thrive post Brexit. The dynamism and innovative people we have in our country should allow us a great future. I welcome the Chancellor’s upbeat analysis and believe passionately that the measures in the Budget will help us to make Britain a great country post Brexit.”

Whilst generally pleased with the measures in the Budget, Sir David did express that he was somewhat disappointed that “we are not looking to have an extension of Crossrail to Ebbsfleet”, as he remains a strong supporter of the C2E campaign.