2021 Budget: A missed opportunity to reverse economic decline

The Chancellor’s annual Budget was an opportunity for the government to set out real practical measures to support people and busiensses in the UK and reverse the decline caused by the combination of a botched Brexit deal and the pandemic.

Best for Britain responds to the Budget below.

Today, the Chancellor announced the annual budget which confirmed:

• The government will lift their public sector pay freeze in April 2022 but with cuts to universal credit, continued inflation and a large increase in the cost of energy happening now, it will have no impact when it’s most needed.

• Increased spending for border and immigration controls in the face of continued labour shortages.

• New funds to encourage foreign direct investment and for research and development which do not match lost funding and opportunities from EU sources.

• That in the week before hosting COP26, the government will incentivise flying within the UK when there are more environmentally friendly transport alternatives.

In response Naomi Smith, CEO of Best for Britain, said

“There should be no doubt that behind the smoke and mirrors, this budget and this government is short changing the British people.

“Their ideological approach to trade and immigration leaves businesses floundering, our supply chains in crisis, our research institutions isolated and big investors explicitly stating they have no interest in the UK.

“Some estimates also show that their modest offering on salaries, which will only come into effect after a winter of sky high energy bills and food prices, will still leave more people worse off when taken alongside inflation, other government cuts and tax increases.

“This budget was a missed opportunity to reverse our economic decline which can still be done if the government is willing to improve its threadbare Brexit deal, implement a business friendly immigration policy, and repair our damaged international reputation.