Yesterday’s Budget was sponsored by the OBR. Probably not but it certainly felt that way as we were introduced to statistic after statistic telling us how great we are all doing and to ignore the doomsayers because the good news is, we’re ever so slightly less rubbish than everybody else.
From a housing perspective I had an inkling that this Budget was unlikely to be the saviour that many were hoping it would be.
Rumours of Help to Buy 2, stamp duty incentives and generous tax breaks for landlords all soon disappeared down one of the many potholes that an extra £200mn announced yesterday is meant to fix.
I am not convinced about the merits of that initiative since my road alone will take up around three quarters of that money.
Elsewhere in the Budget, something something swimming pools, something something artificial intelligence, something something sandbox.
I am sure that there was some good stuff in there, just not enough for me to want to go and find out any more about it.
The chancellor did announce today that inflation is set to fall toward 3 per cent by the end of the year.
That is much needed good news and should signal that the MPC will likely hold any base rate increases from hereon in. I mean, that is how it works, right?
The removal of the LTA on pensions seemed like the big rabbit out of the Budget hat today.There did seem some good initiatives today to help get much needed bodies back onto the employment conveyer belt and help address shortfalls in the workforce.
This could also assist the UK's overall mental health as it may help reduce hold times and all of us having to listen to a recorded phone message blaming exceptionally high call volumes for any delay in answering.
The removal of the LTA on pensions seemed like the big rabbit out of the Budget hat and rumours that sales of Teslas and pizza ovens have soared as a result are currently being denied by IFAs.
In conclusion, if you are a tech nerd with kids under five and you like a British ale at the end of a long day swimming in your community pool while your partner incorporates their road repair side hustle, congratulations, you won first prize in the Budget.
Martin Stewart is director at London Money
