Autumn Statement - PwC comments on public sector matters
Published at 14:05 PM on 23 November 2016
Commenting on today's Autumn Statement, Tina Hallett, Government and Public Sector leader at PwC, said:
"Today's Autumn Statement is a first step in the right direction, but to achieve Theresa May's aspirations of a 'country that works for everyone', it needs to be felt by everyone in their daily lives too.
"Though the Prime Minister and Chancellor have changed, the problems the country is facing have not. For public finances to be repaired, including a higher stream of tax revenues, we also need real incomes to grow which ultimately requires higher productivity. But income growth is meaningless if the cost of living also grows and the people 'just about managing' or not managing at all feel no difference day-to-day.
"Today's announcement does recognise the need for people to feel investment, for example, a cash injection into small infrastructure schemes, like road repairs, quickly make a difference to the daily commute.
"While this type of investment produces a 'quick win' for the government, they still need to address the underlying issues which keep many families living in poverty, struggling to manage. The Poverty Premium - where the poorer you are, the more likely you are to pay higher costs for goods and services - is an example of a fundamental problem which we need to address to help prevent a deepening of the social mobility challenge in this country."
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