Hammond Silences Critics For Now

A grim Brexit budget that slashed growth forecasts but gave young voters a tax break on buying their first property may have placated critics of British finance minister Philip Hammond, at least for now.Hammond was under intense pressure from within his own Conservative Party to spend money Britain doesn’t have on courting voters, though he is boxed in by uncertainty over the impact of Britain’s March 2019 exit from the European Union.Despite outlining a sombre outlook for economic growth and government borrowing, Hammond announced some spending steps aimed at winning back voters, in particular abolishing a property tax for most first-time home-buyers.

Source: With a grim Brexit budget, British finance minister Hammond hushes critics for now – Reuters

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Craig Erlam

Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam