Six expert UK budget predictions
By International Adviser, 13 Oct 17
Experts from Old Mutual Wealth and Quilter Cheviot give their budget predictions ahead of 22 November.
Economy
Richard Carter, head of fixed interest research at Quilter Cheviot says:
“We believe the main issue with the Budget is that GDP growth forecasts are set to be revised down by the OBR as productivity has remained disappointingly low. This will leave chancellor Phillip Hammond very little room for manoeuvre despite the fact that recent tax receipts have actually been quite strong.
“Many Tory MPs would like Hammond to ease austerity measures, increase public sector pay and also somehow plan for the possibility of no Brexit deal but the public finances probably don’t allow it. We expect a no-frills Budget with limited economic impact – the market’s focus is likely to remain squarely on the progress of negotiations with the EU.”
Tags: Budget | Old Mutual | Quilter Cheviot
