We expect the Chancellor, Rachel Reeves, to raise taxes by about £38bn in the Budget on 26th November, which will trim GDP growth, weigh on inflation and contribute to more interest rate cuts. That is likely to be received warmly by the markets and could prevent Reeves from having to come back with more tax rises next year. But the stakes are high, and we can think of several ways the Budget could deliver a less market-friendly outcome, a bigger hit to GDP or higher inflation. No pressure, Rachel Reeves.
We’ll be discussing what to expect in the Budget in a special in-person roundtable event on 12th November at our London office (register here) and what happened in a 20-minute online briefing at 3pm GMT on 26th November (register here).
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.
