Our response to the Budget

Lloyds Bank Foundation's team sitting around a table

Following the publication of yesterday's budget Duncan Shrubsole, Director of Policy, Research and Communications at Lloyds Bank Foundation said:

“Whilst there was much talk about businesses and the public sector this was disappointingly another budget with little more than a passing mention for the charities who are dealing with some of this country’s most complex social problems. And despite the optimistic headlines, it was a budget that offered little to ease the pressures of austerity on local communities up and down the country.

“As our research into local authority spending has shown there is a quiet crisis facing local authorities and the people, particularly the most vulnerable, who rely on the services they provide and fund, with cuts to council budgets falling heaviest on the most deprived areas. Beyond some limited announcements on social care, today’s budget failed to offer the long-term funds councils and charities need to properly deliver local services.

"We welcome the additional funds to support Universal Credit, both the £1bn to help those transitioning to do so without losing important financial support and the £1.7bn announced to restore some of the previous cuts to the work allowance. However there remains much more to do to deliver a Universal Credit that genuinely works to protect and support the most vulnerable in society and more generally to ensure the level of benefits match the ever-increasing cost of living.

“With little offered to support civil society the Chancellor’s budget yet again proved to be a missed opportunity by the government to embrace and support charities to build a stronger society for everyone.”

For more information, please contact Lloyds Bank Foundation Press & Communications Officer Imthiaz Rehman on 020 3988 3742 or irehman@lloydsbankfoundation.org.uk. Also see Lloyds Bank Foundation's A Quiet Crisis report

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