We are boxed in by bonds and the chancellor’s promises

Simon Rawlinson New

Jeremy Hunt’s success in calming financial markets with the autumn statement leaves a lot of unanswered questions observes Simon Rawlinson of Arcadis

Jeremy Hunt set out to achieve three overriding but conflicting goals as he presented his 2023 autumn statement last month. The obvious takeaway was the rabbit from the hat, the unexpectedly high cuts in national insurance rates, which highlighted that his immediate and most important objective was to create election-winning momentum.

By contrast, a blizzard of incremental business-friendly measures, including the extension of full expensing, demonstrated the limited resources available to the UK to drive growth. Finally, an improbable projection of tight growth in spending, right through to 2028/29, aimed to keep the bond markets on side by demonstrating ruthless fiscal discipline.

Already registered? Login here

To continue enjoying Building.co.uk, sign up for free guest access

Existing subscriber? LOGIN


Stay at the forefront of thought leadership with news and analysis from award-winning journalists. Enjoy company features, CEO interviews, architectural reviews, technical project know-how and the latest innovations.

  • Limited access to building.co.uk
  • Breaking industry news as it happens
  • Breaking, daily and weekly e-newsletters

Get your free guest access  SIGN UP TODAY

Gated access promo

Subscribe now for unlimited access


Subscribe to Building today and you will benefit from:

  • Unlimited access to all stories including expert analysis and comment from industry leaders
  • Our league tables, cost models and economics data
  • Our online archive of over 10,000 articles
  • Building magazine digital editions
  • Building magazine print editions
  • Printed/digital supplements

Subscribe now for unlimited access.

View our subscription options and join our community