UK Treasury Chief pulled a few rabbits out of his hat when he delivered to the UK Parliament the last budget statement before Brexit.
“It's clearly not sustainable, or fair, that digital platform businesses can generate substantial value in the UK without paying tax here in respect of that business,” Hammond added. Philip Hammond announced that funding for government departments to prepare for Brexit would be increased to $2,5 billion (£2bn).
“I have already allocated £2.2bn to departments for Brexit preparations. And in the Autumn Budget last year I set aside a further £1.5bn to be allocated in 2019-20. Today I am increasing that sum to £2bn,” Hammond told the MPs.
Following a decade of austerity-led policies, Hammond promised a new chapter in Britain's economic history and reported that “the era of austerity is finally coming to an end.”
Addressing the House of Common, the Chancellor said that British gross domestic product growth would expand by 1.6 percent in 2019, up from an official prediction of 1.3 percent made seven months ago.
Hammond was expected to announce investment in the National Health Service (NHS), a public service highly valued in the British society.
The government will increase mental health funding by more than $2.5 billion a year by 2023-24 and a further $832 million (£650m) for social care funding next year.
Defense
The UK is second biggest contributor to NATO…
