The Conversation: UK Budget 2018: experts respond

Michael Kitson, Senior Lecturer in International Macroeconomics at Cambridge Judge Business School, comments on the Budget 2018. Michael said chancellor Philip Hammond talked about important initiatives such as more funding for the NHS and business rate relief, but there was a lack of clear vision and strategy for long-term growth. “Sluggish productivity growth is the major problem facing the UK economy as it is the main driver of the growth of wages, profits and tax revenues. If the chancellor was serious about crafting a budget for “strivers, grafters and carers” then he would implement a coherent investment strategy to increase productivity and help the economy to deal with the turbulence of Brexit.”

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