The spring budget is met yearly with anticipation and hope that the Chancellor of the Exchequer will magically solve all of the country’s problems with a wave of his red briefcase. Not surprisingly, Phillip Hammond’s budget lacked the fairy dust that was needed and his opposition have been quick to point out the flaws in his plan.
However, as young people the overdramatic headlines and ridicule that has dominated the news over the previous weeks can cloud our understanding of what the budget actually entails. As Thomas Niven, a fellow student in my year said, “it’s important that as young people we learn about the implications of the budget, as we are the ones who will live with its impacts.” It is important to remember that no one budget is ever going to please or fix every member of the countries issues, and the unpredictable variables of Brexit have only added to the complications of creating this year’s spring budget.
To get a better understanding for the reason behind some of Hammond’s policies, as part of the BBC School Report, my school emailed him to ask for a statement. As I attend school in his constituency of Runnymede and Weybridge, I was also interested to find out how the budget will affect our local area.
According to critics, the first issue not properly addressed in the budget is affordable housing. The governments Housing White paper, released on the 7th of February, sets out to “fix our broken housing market,” with many hoping the budget would explain how.
Hammond gave the following response as why the issue was seemingly not addressed in his budget: “This white paper demonstrates that the Government is embarking on the largest affordable house building programme since the 1970s. A £5 billion package of investment in housing has also been announced, including £3 billion to build more than 25,000 new homes over the course of this Parliament under the new Home Building Fund.”
One of the more positively received new initiatives in Hammonds budget is the Region bolstering program, which “sets out measures to support economic growth,” with him explaining the benefits as including “£690 million for local authorities to tackle urban congestion and get local transport moving again, something local authorities covering Runnymede and Weybridge can apply for.”
The school system is also seeing a revamp in funding under Hammond’s budget, with 110 new free schools being created from the £320 million allocated to them in the budget. Established schools, on the other hand, will receive 6.5% less funding per student according to the Institute of Fiscal studies. Hammond defends this decision that many say will reduce the level of education established schools can provide, as it will “ help by increasing the capacity and diversity of the school system, ensuring there is a good school place that meets the individual needs of every single child.”
Another change to the school system is a new focus being placed on technical subjects, such as agriculture and construction. Hammond explained, “while our academic system is undeniably once of the best in the world, our technical education system is not. In our new T-levels, we will increase training hours for 16-19 year old technical students by over 50%, these will deliver a parity of esteem and quality for the technical route.”
As a GCSE student, my peers and I are currently looking at the next step in our education, and offering quality and respected opportunities into career paths that can often be over looked is invaluable to a lot of young people. T-levels offer practical skills and a bridge from education to the workplace which the current school system is lacking.
Ultimately, while the budget is a financial plan for the following year, variables such as Brexit will undoubtedly affect it, which is a fact that many, especially young people, are worried about. Hammond gave the following statement about working around the uncertainty’s aroused by Brexit, “the process of leaving the EU will be complex; getting it right will ensure the success of our country for many years to come. As we negotiate our departure, it is, therefore, vital that we maintain a strong economy.”
Through Hammond’s statements, while not every initiative was addressed and explained, it is clear that issues effecting young people are being addressed. The new T-levels are an invaluable expansion to BTECS and apprenticeships, while free schools will help fill the increasing demand for quality school places. While there are flaws, as expected, and the spring budget may not have granted all your wishes, for some, it really has brought a fairy tale ending.
Georgia Balmer, Heathside School
