With the NHS on its knees and headteachers asking for donations from parents to keep their schools running, Philip Hammond has an opportunity to do something bold and spend more money where the public are clamouring for it to be spent. My guess is that he will keep the Tory paymasters happy and reduce Corporation and Capital Gains Tax.
After 7 years of austerity, cutting services and increasing VAT from 15% to 20% the Tories have ‘reduced’ the national debt from £1T to £1.7T. The debt has been growing at £100B a year.
The Tories blame Labour for the recession despite it being caused by the global financial crash. Who will they blame for the increase in national debt?