Hammond kicks the can down road for many

and by making it easier for people to look after their own family either by paying for care for them and making it tax deductible or giving other incentives to take time off to care themselves for their loved one.

“The announcement of a Green Paper later this year on long-term funding options feels like yet another Chancellor who is not willing to tackle this thorny issue.”

Ouch! No comfort either for those who rely on interest from their savings to boost retirement income.

Confirmation of the new rate for the NS&I bond at 2.2 per cent puts it alongside some of the best in the market, but with an investment limit of just £3,000 this is not going to provide any significant income for anyone.

In addition, there was general woe at the reduction of the dividend allowance from £5,000 to £2,000.

Surely the thin end of the wedge given it was only introduced a year ago.

Advisers are concerned about the impact on small business owners, but again the elderly are also caught out. The reduction illustrates why people should use tax planning vehicles such as ISAs even if the need for them appears to have gone away. Investment ISAs (£20,000 next year) are as valuable as ever.

We have advised clients to move money to dividend bearing assets as a tax efficient way of generating much needed income, but that strategy may need to be re-thought in light of the changes.

And could National Insurance hikes threaten entrepreneurialism in the form of the vast numbers going self-employed and starting their own business? Many rebellious Tory MPs believed so and have forced a re-think.

The rate of ‘class 4’ NI contributions is supposed to increase from nine per cent to 10 per cent in April 2018, and 11 per cent by April 2019. Nothing on stamp duty. “It’s incredibly disappointing,” declared Saga. “Whilst many experts have recognised the need for an inter-generational solution to the housing crisis they have again been gazumped by a Chancellor who has missed the opportunity to encourage family housing to be released to the market.”

A missed opportunity also for the Chancellor to simplify the pensions system.

It is felt lifetime and annual limits are complex and deter people from saving for their retirement.

The Treasury raised £1.2 billion more than it initially expected from pension freedoms last year.

Vince Smith-Hughes, of Prudential, said the figures were potentially worrying if they indicated people had withdrawn more than expected from their savings.

Citing a trend to larger withdrawals – including in some cases all of the fund being withdrawn in one go – he went on: “This may be right for some people who have other income sources, but is a concern if unsustainable levels of income are being taken by others where the income from the pension is critical to maintaining a reasonable standard of living.”

All in all something of a mixed bag. Trevor Law is managing director of Merito Financial Services, chartered financial planners, based in Solihull. Email:tilaw@meritofs.com