Introduction

Chancellor Philip Hammond said he’d take a “balanced approach” to his second Budget of 2017.

Once again the speech was light on headline-grabbing finance changes and there were no ‘giveaways’ or major surprises.

Instead, the chancellor focussed on measures to prepare the economy for post-Brexit life.

Raising productivity is key to boosting economic growth and wages, but growth has “remained stubbornly flat” and continues to be an issue.

In light of this, the Office for Budget Responsibility revised down its forecasts for growth.