Financial Director: How the Budget affects finance leaders

Date: November 1, 2018

The “era of austerity is finally coming to an end”, the Chancellor said in his last Budget before Brexit- an eye-catching line.

But this is in the context of an economy muddling through, and withdrawal from the EU clearly remains a risk in the immediate road ahead, said Laith Khalaf, senior analyst at financial services group Hargreaves Lansdown. “This is simply a continuation of the current trend, where the UK remains in a low growth, low interest rate environment,” he added.

But what may come to define Philip Hammond’s budget is hiscareful approach- especially in how it may affect UK businesses, said Khalaf.

‘The chancellor hasn’t rocked the fiscal boat with this Budget, not entirely surprising given the Brexit storm clouds gathering and the mutinous mutterings from below deck,” said Khalaf.

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