Autumn Budget - Markets give the smaller-than-expected Budget the thumbs up

After months of speculation and an unprecedented leak of all the details an hour before the Chancellor’s speech, the financial markets have given the Budget the thumbs up and the Budget doesn’t significantly alter our economic forecasts. There’s still a risk that the market changes its tune if the Budget lands badly with Labour MPs and the public. But without the really big tax hikes that everyone feared, the political pressure on the Chancellor, in the near-term at least, will probably be less intense than we expected.