North Devon financial adviser Philip Milton has expressed his views on the recent Autumn Budget, describing it as a mix of “some positives” and significant “missed opportunities.” He emphasized that, despite concerns prior to the announcement, the budget could have been far worse than anticipated.
In a detailed assessment, Milton acknowledged the government’s efforts to address key economic issues but pointed out that several areas could have been improved. He remarked that while some measures were welcomed, such as support for small businesses, the overall impact was less than what was needed for long-term economic stability.
Concerns About Economic Impact
Milton highlighted his disappointment with the lack of initiatives aimed at boosting investment in North Devon. He noted that small and medium-sized enterprises (SMEs) in the region require more substantial support to thrive. “The Budget failed to deliver a clear strategy for stimulating local economies,” he stated, emphasizing that without targeted investment, businesses may struggle to recover in the coming months.
Additionally, concerns were raised about the rising cost of living, which Milton believes was not adequately addressed. He pointed out that without decisive action, many households in North Devon will continue to face financial difficulties. “In an era of increasing inflation, we need a budget that prioritizes the welfare of individuals and families,” he added.
A Call for Action
Looking ahead, Milton urged the UK government to consider more proactive measures, particularly in the context of economic growth. He suggested that targeted tax incentives could encourage investment and job creation in the North Devon area. “We need to foster an environment where businesses can flourish and create opportunities for our communities,” he concluded.
As the implications of the Autumn Budget unfold, the focus will remain on how effectively the government can respond to the ongoing challenges faced by businesses and households alike. Milton’s insights reflect a broader sentiment among local advisers who are advocating for a more robust approach to economic recovery.
