Free Trial

OBR Chair Confirms Statement Later Today As Meeting w/PM Concludes

UK

Wires reporting that chairman of the independent OBR, Richard Hughes, stating that the body will release a statement later today. Says that the OBR will set out a timetable for its forecasts next week.

  • Comes as a meeting at 10 Downing Street between Hughes, PM Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng concludes after 30 mins.
  • Hughes: "We talked about economic and fiscal outlook with Chancellor Kwarteng and PM Truss".
  • Major market and political focus on the OBR figures. The gov't remains under major pressure to reverse its planned tax cuts, with opinion polling released on the evening of 29 September painting a dire picture for Truss' centre-right Conservative Party.
    • TecneUK: LAB: 47% (+6), CON: 27% (-7), LDEM: 11% (-), GRN: 6% (+1) 28 - 29 Sep, chgs w/21-22 Sep
    • Survation: LAB: 49% (+6) CON: 28% (-5) LDEM: 11% (-), 29 Sep, chgs w/31 Aug
    • YouGov: LAB: 54% (+9), CON: 21% (-7), LDEM: 7% (-2), GRN: 6% (-1), 28 - 29 Sep. Chgs. w/ 25 Sep
    • Redfield and Wilton: LAB: 46% (+2), CON: 29% (-2), LDEM: 13% (+2), GRN: 4% (-2) 28 - 29 Sep. Chgs w/25 Sep

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.