Latest Issue

Why it’s time to end the attention-seeking spectacle of the Budget

Turning budgets into political showbiz is bad for the government and the economy

By Paul Wallace  

Chancellor Philip Hammond delivers his Budget in the House of Commons. Photo: PA/PA Wire/PA Images

Philip Hammond did his best to present an upbeat message in his first Autumn Budget, announcing more money for the NHS, a tax break for first-time homebuyers and ambitious plans to build more houses. But the discordant growl of the government’s fiscal watchdog drowned out the chancellor of the exchequer’s falsetto trills. The decision by the Office for Budget Responsibility (OBR) to downgrade prospective productivity growth slashed future revenues and cut the ground from…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to

More From Prospect