On the day briefing: November 2017 Budget
This was the first Autumn Budget, following Philip Hammond’s announcement that he was changing both the timing and the frequency of the Government‘s “fiscal event “.
The budget outlook was significantly less optimistic about economic prospects than in March. This cut to Britain’s productivity growth has meant a downgrading of the growth forecast and signals that the UK economy is weaker than hoped.
The NHS in England received more funding than we had expected, but less than needed. The chancellor announced:
- An extra £1.6bn of revenue funding in 2018/19
- An immediate £350m to help trusts prepare for this winter
- Additional funding for capital investment over the course of the parliament
- An end to the pay cap for staff on the agenda for change contracts, based on recommendations by the pay review bodies.
This briefing outlines the economic headlines within the Budget, key announcements for health and the wider economy, and NHS Providers response.