Labour leader Jeremy Corbyn said it was "a Budget of utter complacency".Mr Hammond said there had been a "dramatic increase" in the number of people working as self-employed - and that the reason for doing so should not be "differences in tax treatment". The disparity between the rates paid by the self-employed and employees "undermines the fairness of our tax system", he said.
Friday was marked by UK Industrial Production figures. In January 2017, total production decreased by 0.4% compared with December 2016 with manufacturing providing the largest downward contribution, decreasing by 0.9%. The monthly decrease in manufacturing was largely due to a decrease in pharmaceuticals, falling by 13.5%, partially offset by increased manufacturing of transport equipment; pharmaceuticals can be highly erratic, with significant monthly changes, often due to the delivery of large contracts.
This week markets will be looking at:
Industrial Production (Friday 10:30)
Claimant Count Change/Unemployment Rate (Wednesday 10:30)
Official Bank Rate/Monetary Policy Summary (Thursday 13:00)
