Spring Statement: Our verdict

Bevan Foundation Director, Victoria Winckler, has reacted with disappointment to the Chancellor’s Spring Statement.

The Chancellor the Exchequer, Phillip Hammond, made his Spring Statement on 13th March 2018. In a change to past practice, his statement was an assessment of economic performance and public finances.

Watching the interview with BBC Wales Economics Correspondent Sarah Dickins at our office, Victoria Winckler said:

“While the Chancellor was very upbeat – even bouncy like Tigger – in his assessment of the UK economy’s performance and prospects, it doesn’t fit with the experience of many ordinary people in Wales.”

In an interview later broadcast on BBC Wales today, Victoria went on to say:

“He talked about how the national minimum wage is rising,  it is and that is good, but what he didn’t say is that a lot of the benefits of that wage increase is being taken away by cuts to tax credits. For people struggling to make ends meet I don’t think there was a lot of good news in there.”