Osborne under pressure to deliver in autumn statement
AS THE renowned English poet John Lydgate famously said, “you can please some of the people all of the time, you can please all of the people some of the time, but you can’t please all of the people all of the time”.
George Osborne is under pressure to deliver in autumn statement
These words would be well-heeded by George Osborne as he prepares for his career defining Autumn Statement on Wednesday, when he is under pressure on all fronts to deliver early Christmas presents.
Firstly from businesses, which are demanding tax reforms to help them grow in a challenging climate. As this week’s lead story indicates, hopefully their requests will be granted.
Secondly, from would-be homeowners, who are struggling despite historically low borrowing rates, due to the housing shortage and ballooning property prices.
Today Osborne announced that a new mortgage comparison tool will be introduced to help borrowers choose the best deals, which he will welcome at the Autumn Statement.
The statement is likely to impact businesses and home owners
He also announced that HSBC, Aldermore, Clydesdale Bank, and Newcastle Building Society have signed up to offer the new Help to Buy ISAs will be launched on December 1, meaning 14 lenders have now confirmed.
The new tax-free accounts should help first-time buyers save for a deposit, as the Government will add 25 per cent to any savings made, up to a maximum bonus of £3,000.
We will have to see whether this will be enough to please some of the people on Wednesday’s day of reckoning…