Today, Phillip Hammond delivers Budget Statement amid stalling Brexit talks and an uncertain economic outlook in the UK.
The country’s attention is focussed on Chancellor of the Exchequer Philip Hammond who will today at 12.30pm present his budget statement.
The statement sets out the government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility (OBR).
And, the vital question is: ‘Will the government’s statement get Britain fit for the digital future?’
It is expected that Hammond is to map out a vision of high-tech growth, since Britain is now at the forefront of a technological revolution, which will affect the companies, offices, supply chains and factory floors in the UK.
UK’s manufacturing industries are the main pillars of the economy in this country, and that’s why it is now more important than ever, that the government helps and supports manufacturers to invest in new technologies and processes.
Henry Anson, CEO of Hennik Group, said: “At the day of recognition, we will find out if the government is putting the money where the mouth is and supports the recommendation put forward by the Made Smarter Review”.
The Made Smarter Review is a governmental industry-led review exploring how UK manufacturing can maximise benefits from increasing adoption of digital technology through a strong industry and government partnership.
The Review, which had explained among other things how industrial digitalisation could boost UK manufacturing by £455bn over 10 years and create upwards of 175,000 jobs, was very well received by public.
Shortly, Hammond will reveal if the government keeps its word or if the review was only something like a false promise.
Anson adds: “It’s the day that we find out whether the government’s much trumpeted industrial strategy is a myth or reality”.
Following the Budget Statement, the Chancellor of the Exchequer moves a motion for the ‘Amendment of the Law’. A debate then takes place on the Budget Resolutions and economic situation.