Global Macro Research
Global Macro ResearchHow painful will the UK Budget be?
The UK’s new Labour government blames its predecessors for leaving the country’s finances in a mess. How true is that? What can Chancellor Rachel Reeves do to fix problems and boost long-term growth when she unveils her first Budget next month?
Authors
Paul Diggle
Chief Economist
Luke Bartholomew
Deputy Chief Economist
Duration: 25 mins
Date: 05 Sept 2024
UK Chancellor Rachel Reeves will deliver her first Budget on 30 October. Paul Diggle and Luke Bartholomew ask whether Labour have been talking the UK economy down as the government manages expectations ahead of potential tax increases, and whether markets should be concerned about possible accounting changes to the way Bank of England losses are treated in the public finances.
