Hammond Asks Businesses to Help Prove Need for Brexit Transition

Joy Montgomery
October 4, 2017

United Kingdom businesses are right to demand more clarity on Brexit, Chancellor Philip Hammond acknowledged on Monday (2 October).

And while conceding that the market has its failings, Hammond will promise that the Tory government will make the next generation better off, stressing free enterprise as the key to financing public services and improving living standards.

"Removing this uncertainty is the single immediate stimulus we can give to this economy", Hammond said, speaking more openly than he had during his flagship speech earlier in the day.

"While no-one suggests a market economy is flawless, it is the best system yet designed for making people steadily better off over time and underpinning strong and sustainable public services for everyone. Though robot bricklayers may be a way off yet, we know that, like other sectors, ours will need to innovate and adapt, continuing to develop the traditional skilled trades, while adapting to and incorporating new technologies from low carbon building to greater digitalisation".

The shadow housing minister, John Healey, has started to flesh out the details of Labour's proposed rent controls, announced by Jeremy Corbyn last week. "Every country except North Korea, Venezuela, Cuba and Zimbabwe has adopted that system".

Several groups, including the Confederation of British Industry (CBI), Institute of Directors (IoD) and the BRC criticised the speech for lacking substance.

Two minors killed and 12 injured in Pak ceasefire violation
The ceasefire violation was started around 6:30 am and continued till 11.30 am, Tariq Ahmad Zargar told PTI. Hundreds of border dwellers have been forced to flee their homes due to the Pakistani firing and shelling.

Hammond, who was sidelined by May during the election campaign, said last week's Labour Party conference showed it wanted to impose on Britain, the world's fifth largest economy, the "socialist fantasy" seen in Cuba, Venezuela or Zimbabwe.

The Conservatives must take on and defeat Labour "dinosaurs" in a great "clash of ideas" over the future of capitalism, Philip Hammond has said, adding that activists must expose Jeremy Corbyn's "back to the future socialist fantasy" which was leading people "down a risky path".

Branding the party "a political version of Jurassic Park", he told delegates: "They say politics is about the clash of ideas, so we say to Corbyn: bring it on".

Chancellor Philip Hammond will defend the Conservative Party's economic record, promising to ensure young people are better off than their parents and promising the next generation: "We will not let you down".

Hammond will also confirm a 300 million-pound ($400 million) investment to connect cities to the planned HS2 high-speed rail route, reducing travel times between centers such as Liverpool, Manchester, Sheffield, Leeds, York and Leicester.

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