Displaying items by tag: Philip Hammond

The Trussell Trust has said that Philip Hammond has missed a chance to do the right thing by giving people on the lowest income financial support and certainty before Brexit. Our benefits system should ensure proper support is in place when help is most needed. But more people are struggling to make ends meet and face hunger. The trust said a record demand in foodbank use has resulted from benefits not covering the cost of essentials. ‘By failing to end the benefits freeze and the five-week wait for Universal Credit, thousands more people will become trapped in poverty and may be forced to a foodbank as a result.’ Financial experts said that Britain needs urgent spending reviews to address issues around benefits squeezes, education funding, and social care. The Chancellor promised to free up more money to help end austerity if there’s a smooth Brexit, and that a disorderly Brexit would deal a ‘significant’ blow to economic activity in the short term. See

Wages are rising and unemployment rates are at their lowest for more than 40 years, so these should be boom times for young people. However, rising rents, bills and living expenses mean that one in five aged 25-34 will spend over 60% of their pay on payday. A further 3% find themselves in the red. Meanwhile, house prices in England have risen by 173% over the last 20 years, and around a quarter of 20-34-year-olds still live with their parents - with slim chances of owning a home any time soon. Those living in rented accommodation find high rents eating up income, making it impossible to save for a deposit on a home. Pray for Philip Hammond as he prepares next week’s budget. May the undetonated timebomb of Brexit have no adverse influence on his proposals, and may they give opportunities for economic growth and prosperity for young and old alike in the nation’s future.

The Brexit teams meet this week after a delayed negotiation start. Pray for both Davis and Barnier as they compare their respective positions; may they make good progress, identifying differences and recognising similarities that can be reinforced. The Centre for European Policy Studies believes the delay is indicative of UK politicians’ division and infighting. Pray for a healing of rifts  during the summer break between chancellor Philip Hammond and his colleagues, and  for harmony when parliament resumes in September. Also many believe that, whether through arrogance or incompetence, the reputation of the Foreign Office has been undermined under Boris Johnson. His comment that ‘the EU could go whistle for its money in the Brexit negotiations’ opened a potential no-deal scenario which could dismantle the economy. Pray that Mr Johnson, a man of high intelligence, may reveal the more serious and credible side of his personality.

On Wednesday Philip Hammond delivered his first Budget as Chancellor. He said that the Treasury's priority was ‘making sure that our economy is resilient and that we’ve got reserves in the tank’ as the Government prepares to begin Brexit negotiations. Some of the key points were: - extra money for new free schools in England, which could include grammar schools - significant spending on social care - £5m fund to mark next year's centenary of women first getting the vote - cash to alleviate the impact of increased business rates on firms - £500m support for electric vehicles, robotics and artificial intelligence. The decision which has attracted the most criticism is an increase in national insurance contributions by self-employed people. The debate goes on, and the media discussions will help Christians to digest and intercede wisely in the coming days. In the midst of change and challenge, we can pray for the United Kingdom to step into a new level of governing that is led by God’s Holy Spirit at every level.