"It is great news to see the help being provided to new home buyers. This will undoubtedly see a boost to morale amongst young people in particular as they are able to get onto the housing ladder much earlier and with less deposit required.
There are definitely other areas where the Chancellor is looking to help people who themselves have been experiencing the effects of higher inflation and significant increases on key aspects of the household budget with no trade off from increasing salaries.
With lower interest rates incomes have also been hit and so even 1p off the duty on a pint of beer is to be applauded and the scrapping of the fuel duty rise also seems very sensible given the escalating prices on the garage forecourts.
The principle of rewarding those who want to work and get on is one that resonates with me and although some of the measures are only small on this occasion, it is a step in the right direction. Hopefully it will motivate younger people to work harder and take the opportunities that are being presented to them.
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It will be interesting to see how the Bank of England responds to its new mandate to help boost the economy because this is ultimately what is required to ensure that we return to a positive growth environment.
Boosting the economy and allowing the consumer to borrow and to spend will restore growth and create a positive momentum rather than one focused on doom and gloom.
The very pragmatic and long overdue decision to allow Child Trust Funds to transfer to Junior ISAs is just an example of the Chancellor working out just a little late in the day about doing the right thing.
We must encourage a market where it is easier for all generations to engage with Financial Planning. More still needs to be done to alter regulation to make it easier for the consumer to do business and the profession still needs to do more to make Financial Planning more engaging and core to consumer's behaviours."
Nick Cann, chief executive of the Institute of Financial Planning.
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