Opinion: Is UK's financial plan a growth win?
The UK's Labour government has just delivered its first budget, the first ever presented in the UK by a female chancellor — Rachel Reeves and Labour's first budget for 15 years. So what did they do?
Over the next five years. Labour is not just borrowing to fund investment, but it's also taxing in order to keep ever-growing public services in business. So ultimately, the population, like in many Western nations, is getting and continuing to get older, and there are fewer workers for everyone who is retiring.
Some UK business sectors are really gonna be struggling on the back of this budget, including hospitality, leisure and retail, which generally employ staff around the minimum wage, which is being forced up and much larger cost to businesses might mean empty properties and less leisure choices for the population there.
The opinions and thoughts expressed in this article reflect only the author's views.
Adam Lawrence is an economist and housing provider who has been involved in over 700 property transactions in the UK over the past 15 years. He blogs weekly about the UK economy and property market and has built asset-backed businesses which provide housing for multiple segments of the UK market from the private sector to residential care.
