Years ago ‘the budget’ was the once a year, must see, critical priority publication for any IFA. Around a week or two after the Chancellor had stood up at the dispatch box a newsletter (an actual physical newsletter through the post – how quaint!) would wing its way to your inbox, and you could see what had changed.
Nowadays things are a little different. Yesterday I was in a seminar where the subject was how AI was delivering value to financial advisers, and the presenter told me that the Autumn Statement had been published, and one adviser he knew of who was using ChatGPT to write their summary, was able to publish their summary to their website less than 10 seconds after the Chancellor sat down.
Well, it’s taken us a day, but the additional care and genuine human intelligence used to bring this document together is hopefully worth it. Chancellor Hunt has announced over 100 ‘growth promoting’ strategies that are perhaps the first direct evidence of a ‘post Brexit’ mindset for the UK beginning to follow its own path into the future.
Rumours abounded of the Chancellor abolishing inheritance tax and bribing the ‘traditional Tory vote’ with big tax give aways. There are indeed tax give aways, but they are far broader in application, and very much aimed at the ‘normal’ working person.
It’s going to be a few years yet before the extraordinary debt levels the country took on through the financial crisis or the pandemic begin to recede – 2029 according to ONS predictions, but things are perhaps a little better than expected, and the Chancellor has used the wiggle room provided to deliver what seems like a pre-election budget. Whether an effort to make life easier for us all, or to give the Tories a fighting chance in the next election, I’ll allow you to be the judge.
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