November Budget ’17

Paula Veysey Smith • 22 November 2017

November Budget 2017

So, I’m sat here preparing my presentation for tonight on the budget – I guess I should be thankful it won’t be a long one!

The economic outlook has worsened with the OBR (Office of Budget Responsibility) reducing the forecast for growth.  However, Phillip Hammond has increased spending with very little increase in tax revenues to bridge the gap.  This means that borrowing will inevitably increase which means the notion of “balancing the books” seems to have gone out of the window.

On an everyday level for individuals and small business owners I would say the major headlines are:

  • Living wage increases to £7.83 from £7.50
  • No reduction in the VAT threshold limit
  • Personal allowance to increase to £11, 850 in April 2018 & higher rate allowance to increase to £46,350

I held my breath when Mr Hammond turned to the SME’s; if I had continue to hold my breath through this I would have had the ability to still exhale some at the end!  To be honest unless you’re involved with the digital world, technology companies or the construction industry there was really very little there.  Measures seemed to focus small tax regulations – the announcement on business rates being about staircase tax and a switch from RPI to CPI!  There was just simply nothing to assist the majority of small business, many of which are already facing a squeezed bottom line after inflationary pressures and the implementation of auto enrolment pensions.  And we mustn’t forget that the Spring Budget announcement that the dividend allowance will drop to £2,000 next April is still due to happen.

The SME was described as the backbone of the UK economy; well, with so little to support it back pain is inevitable which will mean that the investment in the NHS will be well needed.

R is for Reward

by Paula Veysey-Smith • 8 July 2026
The finish line isn't just a destination. It's proof of everything you put in to get there. “Nothing feels so good as when you've succeeded at something you set out to do.” We made it. Seven letters, seven posts, and one very important journey. If you've been following this series from the beginning, you'll know that back in January we started with a goal — a triathlon in July. And as I write this, sitting in the garden with an iced coffee and a medal around my neck, I can tell you: it happened.  R is for Reward. And it might just be my favourite letter of the lot.

E is for Evaluate

by Paula Veysey-Smith • 8 July 2026
Setting a goal is just the beginning. What keeps it alive — and keeps you moving towards it — is what you do in between. “Evaluating what you're doing is so important. What worked, what didn't, what can I do better?” We're six letters into the SMARTER framework now. We've covered Specific, Measurable, Achievable, Relevant and Time-bound. Today we reach E for Evaluate — and I'll be honest with you, I think this might be the most important letter of the lot.

T is for Time-Bound

by Paula Veysey-Smith • 26 June 2026
A goal without a deadline is just a wish with good intentions. Here's why putting a date on it changes everything. “Having that end date is something that gives you the enthusiasm, the commitment, and the motivation to continue.” We're now on T in the SMARTER Goals series - and this one is beautifully simple. T stands for Time-Bound, or Targets. It means giving your goal an end date.

R is for Relevant

by Paula Veysey-Smith • 26 June 2026
Short-term goals are more powerful when they're built towards something bigger. Here’s why relevance is what keeps you going when motivation dips. “Goals that are shorter term in nature, but built to a bigger vision, are the most motivating that you can get” So far in this series we've looked at S for Specific, M for Measurable, and A for Achievable. Now we come to R for Relevant -- and this one is about making sure your goals are connected to something that genuinely matters to you.
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