MNI BRIEF: Cuts Should Be Timely But Cautious - Buba's Nagel

MNI BRIEF: ECB Policy Decisions Based On Broad Analysis- Lane

MNI BRIEF: Less Than Half Canada Firms See Inflation Obstacle

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

MNI: BELGIUM NOV BNB BUSINESS SURVEY -11.1

EZ/UK Bond Supply Calendar: Gilt Syndi; IT, DE Due on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Def Min Hints At Protection Of MoD Budget In Autumn Statement

UK

Recently re-appointed Secretary of State for Defence Ben Wallace giving evidence to the House of Commons Defence Select Committee. Says that 'We'll find out how fixed the new PM and chancellor are on the 3% of GDP target for defence spending by 2030 at the Autumn statement later this month'.

  • Wallace may not be able to pre-empt Chancellor of the Exchequer Jeremy Hunt's statement, but the long-term defence spending commitment was seen as crucial to ensuring Wallace's accepting the defence minister's office under PM Rishi Sunak.
  • Wallace: 'We are seeking a budget that at least protects the department from inflation'.
  • Wallace: 'I'm confident that the argument has been made that defence needs to come up the priority of investment'.
  • Should Wallace's hints on the Ministry of Defence not being subject to cuts, and indeed potentially receiving further spending increases, this could indicate greater tax hikes or spending cuts elsewhere to get the public finances under control in the 17 Nov autumn statement.
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.