This was never going to be a budget with big capital investment pledges

By Simon Rawlinson2021-10-27T15:04:00

Though clearly the levelling up and housing agendas have received welcome financial backing

Rishi Sunak’s third budget and second spending review involved a careful political judgement forged during a period of unusually high uncertainty.

The chancellor opened his speech with a forecast of an extended period of inflation which he book-ended with an aspiration to cut taxes by the end of the Parliament. Having announced historically large increases in corporation tax, national insurance, and income tax allowances in previous statements, now was the time to share some of the largess.

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