Steady Budget best we could hope for

As he stood at the despatch box, you could be forgiven for thinking Chancellor Philip Hammond was delivering a stand-up routine rather than a Budget. But moments of levity were quickly overtaken as the Chancellor was forced to reveal worse than forecast longterm growth figures for the UK economy.

The anaemic outlook comes bracketed within the wider economic context of Brexit, which Mr Hammond all but shied away from in his hour-long speech. Instead this was a Budget the government hopes will ensure Britain – the sixth largest world economy – continues to be a globally relevant power for decades to come.

There was cash found to underpin the digital economy and invest in R&D and concessions to boost activity in the North Sea. There was also a welcome nod to the Tay Cities Deal and movement to support the emergency services.

Low paid workers will see their pay packets rise come April and there will be adjustments to how the controversial Universal Credit system is administered to provide a little comfort to under-pressure families.

But for those that have been frugal enough to save for a rainy day, there was barely a mention.

What was obvious as Mr Hammond took his seat was just how little financial wriggle room he was playing with.

Predictably, political rivals were not impressed but a steady performance was perhaps the best that could be hoped for in such turbulent times.