Here’s a brief-run down of Phillip Hammonds’ latest budget; looking at how it affects students and young people and importantly, what it means for you guys!
“We are disappointed with the lack of space given to higher education in this most recent budget and although the introduction of the 16-30 railcard is a welcome change for our graduates, it is a shame that a reform of higher education funding was not spoken about in this budget.”
The chancellor handed out £2.8 billion in extra funding for the NHS in England.
All were not pleased mind.
As Laura Kuenssberg (Political Editor @ the beeb) stated, NHS bosses felt this was well short of the £4bn they felt was needed to ‘stop the NHS crisis’.
As well as this, there was a promise to fund nurses pay rise if recommended by an independent panel.
Good news maybe for any of you thinking about becoming a nurse to be…!?
Computer Science Grads
Thinking of delving into the teaching profession? Well, your career prospects just shot up. Phillip Hammond yesterday announced that there would be 8,000 new computer science teachers recruited and a new National Centre for Computing to be set up.
The much-publicised policy looks to extend the 30% discount to those under 31. It’s due to launch in spring 2018 once agreements have been made with the rail companies.
This has had mixed reviews on social media and in the press alike.
The Telegraph saw it as a positive step towards the Conservatives winning over younger voters…
But Callum is clearly not a fan...
Bobbies on the beat were not mentioned in yesterday’s budget. Sadiq Khan was not happy about this.
A key topic, and rightly so, amongst students and young people, yet it got little air-time from Phillip Hammond yesterday.
The Independent responded as you would expect.
Big news for you whiskey lovers… The planned 3.9% tax increase on whiskey has been scrapped. The Shelby family will be pleased!
As well as this, duty rates on beer, cider, wine and other spirits will be also be frozen. Unless of course you’re hoping for a cheap night of K-Cider. Duty rates on this will rise.
Some believed this policy didn’t go far enough though, with the BPA (British Beer and Pub Association) disappointed the Chancellor didn’t listen to their calls for beer duty to be cut by a penny.
A good day for first-time buyers
Stamp duty was immediately abolished for those first-time buyers on houses under £300,000. Critics felt this policy didn’t go far enough but many saw it as a welcome relief for those looking to buy for the first-time.
An expensive day for smokers
The Guardian argued that smokers are an ‘easy target for chancellors’. It appeared that this was the case in yesterday’s budget too. As of 6pm yesterday, rates on all tobacco products increased by 2% above inflation until the end of this parliament.
Those smoking rollies were hit the hardest though, with hand-rolling tobacco increasing by an additional 1%.
In hard numbers, this will mean the price of 20 cigarettes has gone up by 28p and by 41p for 30g of rolling tobacco.
It wasn’t all economy, Brexit and ‘here-here’s’. Hammond had time to squeeze in a couple of (almost funny) jokes. We’ve given #jokeoftheday to Hammond’s Strepsil related gag – making light of Theresa May’s calamitous keynote speech at this year’s Tory Party Conference.
You can see Hammond’s attempt at a pub-gag here.
Jim Waterson made a very good point amount the whole situation though…
You wouldn’t want to be that intern…
And it’s with #BudgetBantz we leave you – thanks for swinging by and we hope you found our Budget 2017 assessment informative. From railcards, to the NHS and housing, whatever your political persuasion, there is no denying this budget affects us all and it important we are all aware and informed!
Your SU x