The first government budget after the Brexit vote has been unveiled, giving us a report into how the economy has been doing since the referendum in July. Firstly, government debt will continue to rise, with borrowing higher than expected. The OBR has forecast growth of 1.7% in 2018 which is relatively strong although may be optimistic depending on the Brexit options. The national living wage is going up to £7.50 from £7.20, a concern for many retailers and other industries who have already seen margins close after the introduction of the living wage. Good news comes from the government’s enthusiasm and commitment to the digital economy with £1 billion for digital infrastructure and £2 billion pounds for research and development which will again help the digital and mobile economy. However, hints of the effect of a more digital ‘gig’ economy, where workers are self-employment or in casual work which is damaging the governments tax take.

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