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Hammond boosted by consumer spending and higher tax receipts

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  • Hammond boosted by consumer spending and higher tax receipts

    Shoppers ‘ignore Brexit’, while record employment levels contribute to £1bn deficit cut
    Philip Hammond has received a twin boost after the latest official figures showed consumers ignoring the threat of a no-deal Brexit to carry on spending, and higher tax receipts leading to a fresh fall in the government’s budget deficit.
    Data from the Office for National Statistics showed retail sales – goods bought in shops or online – were up 0.4% in February, confounding City fears of a similar-sized decline.
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