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UK: Reeves speech has little market impact; long-term positive (if it happens)

UK
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Reeves speech has finished. She's now starting Q&A. Nothing in the speech to really move markets or surprise. The support for the third Heathrow runway was well telegraphed ahead of this speech but is likely to remain the headline for the mainstream press.

  • Not clear that any of this has any huge impacts on the fiscal picture near-term. And until some of these supply side changes get enacted which could be years away it's hard to say much short-term economic impact.
  • The long-term impacts should be positive - if they plans all go ahead.
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Reeves speech has finished. She's now starting Q&A. Nothing in the speech to really move markets or surprise. The support for the third Heathrow runway was well telegraphed ahead of this speech but is likely to remain the headline for the mainstream press.

  • Not clear that any of this has any huge impacts on the fiscal picture near-term. And until some of these supply side changes get enacted which could be years away it's hard to say much short-term economic impact.
  • The long-term impacts should be positive - if they plans all go ahead.