Industry reaction: Hammond protects 'Brexit war chest' in 'anti-Goldilocks' 2017 Budget

Industry commentators react to Spring Budget 2017

Chancellor Philip Hammond fell short of making his first Budget a 'memorable' one but industry commentators have said it was wise to adopt a more cautious, 'anti-Goldilocks Budget' until the path to Brexit is clearer.

While the Chancellor echoed previous comments from government and central banks that the UK economy has been much more resilient than expected in the wake of the Brexit referendum, and the Office for Budget Responsibility (OBR) significantly raised GDP forecasts for 2017, he appears to have refrained from huge gestures in anticipation of potential shocks in the coming years. 'Modest honey pot' Ian Kernohan, economist at Royal London Asset Management, said: "The OBR has deemed any improvement in the public finances as down to one off-factors, so there was little room for any major chang...