The chief executive of Social Enterprise UK has slammed Philip Hammond for relying on ‘old-fashioned and failed economic ideas’ following his Autumn Budget. The Chancellor gave his final Budget before Brexit in Parliament yesterday, which included £900m in business rates relief for small businesses and £650m to rejuvenate Britain’s high streets. But Social Enterprise UK’s Peter Holbrook (pictured) criticised the Chancellor for not using the Budget to help social enterprises. ‘The Chancellor had an opportunity to back social enterprises which share growth by paying their staff fairly and reinvesting their profits back into their communities,’ said Mr Holbrook. ‘Unfortunately, he decided to rely on old fashioned and failed economic ideas. ‘If we want to build an economy that truly works for everyone, we need to back a different type of business. There is little in this Budget to give people confidence that we are heading towards anything other than simply … (To read the full article, subscribe below)

Jamie Hailstone

Senior reporter – NewStart