Update: November 2017 – Hotels
As expected, the Chancellor Philip Hammond was constrained by the Office for Budget Responsibility’s (OBR) gloom over the economic outlook. Nonetheless, recent favourable fiscal trends and some timely accounting changes allowed him to unveil a bigger giveaway than was generally anticipated. Even in the absence of stronger growth, the Chancellor’s Budget measures have reduced the planned speed and scale of fiscal tightening over the coming years. Austerity is not yet over, but there is finally some light at the end of what has been a very long tunnel.