Hunt Expects 'Soft Landing' For Economy-WSJ

Chancellor of the Exchequer Jeremy Hunt and his likely successor (according to current opinion polling), Labour's shadow chancellor Rachel Reeves, have both spoken at the WSJ's CEO Councilevent in London. Hunt claimed that "We are waiting tomorrow to hear whether the U.K. is out of a recession and I think it’s likely we will hear we’ve had a soft landing,” On the upcoming general election, Hunt claimed that “The difference between us and Labour is Conservatives look around the world and we see the fastest-growing economies, whether its North America or in Asia, are ones that have lower tax burdens, and we think we need to go on that difficult journey, and that means difficult decisions".

• WSJ reports that "Reeves promised the most business-friendly government in British history if the opposition party wins the election..." Reeves: “...with the economic inheritance we’re going to get, we’re not going to be able to spend our way to better public services, we’ve got to grow the economy and reform the public services to be able to ensure they are delivering..." WSJ reports she "also said she would seek changes to the U.K.’s fragmented pension system to encourage savings to be channeled into investment."
• The comments from the incumbent and shadow chancellors come around the release of a YouGov opinion poll showing Labour 30% ahead of the Conservatives, with support of 48% and 18% respectively.This represents the largest Labour lead in a YouGov poll since former PM Liz Truss' short-lived tenure in late-2022.