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CIPD - Budget redraws tax boundaries but economic big picture looks worse

The Chartered Institute of Personnel and Development (CIPD) responds as follows to the Chancellor’s Budget statement.

John Philpott, Chief Economic Adviser at the CIPD, comments:

“The Chancellor has redrawn the boundaries of taxation but, judging by the central forecast of the Office for Budget Responsibility (OBR), his budget has done nothing to change the big picture outlook for growth and jobs overall, while ironically shifting the balance of the economic recovery away from business investment and toward household consumption and public spending.

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