This week the focus of the domestic financial press has been on the Budget but with not much wriggle room. This was always going to be more about the conjecture, the theatre, and the post-mortem… oh and the leaks! There was an opportunity to do something more radical but, alas, despite some welcome news around National Insurance and peripheral benefits from other avenues, this was a Budget hampered by sluggish growth in the economy.
There are signs of encouragement and perhaps this is what the government are hoping for before calling an election. Currently, we are technically in a recession and the government’s hopes may well be that we climb out of this over the next two quarters, coinciding with falling inflation, lower interest rates and rising property prices. Not forgetting a feel-good market rise in underlying investment and pension portfolios. We will have to wait and see!
Markets-wise, the feeling is one of cautious optimism laced with excitement in certain quarters. Make sure you read the last item on available tax allowances before you finish reading!
This week’s agenda:
- Budget takeaways
- A hit to the UK economy
- The European outlook is even more subdued
- But there is hope
- Make the most of your allowances
- Summary
Budget takeaways
Investment Week summarised the key points from the Chancellor’s Spring Budget, the last scheduled before the next General Election. The thinking is that this will now take place in the Autumn, after possibly an emergency Budget with further giveaways.
Continues…
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