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Corporate Adviser: Budget: Gloomy outlook for economy sparks living standards concern

30 November 2017

Professor Peter Urwin, Director of the Centre for Employment Research and Professor of Applied Economics at Westminster Business School spoke to Corporate Adviser about the 2017 budget and forecast slowdown for the UK economy.

Speaking to Corporate Adviser, Peter Urwin said: “Philip Hammond shares Mark Carney’s view that a Brexit hit will come and, like Carney, the Chancellor wants something in the armoury. The Bank of England raised interest rates on 2 November, so that lowering them is an option in a subsequent downturn.

"Likewise, Philip Hammond kept a tight rein on the purse strings because he also needs room for manoeuvre when the Brexit hit comes. The £3bn pledged for Brexit preparations was the most visible sign, but even without that, this Budget is all about Brexit, and preparations for the recession it is increasingly likely to bring.”

You can read the whole article on Corporate Adviser.


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