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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.
UK FISCAL
Chancellor of the Exchequer Rachel Reeves is set to deliver the first Budget statement from a Labour gov't since March 2010 this afternoon at 1230GMT (0830ET, 1330CET). Reeves will speak in the House of Commons following prime minister's questions (the final session that former PM and current Leader of the Opposition Rishi Sunak will take part in), and a live stream of the statement can be found here.
- The significant time period between Labour's election win on 4 July and the Budget today - the longest gap between a new gov't and its first budget since 1970 - has allowed for rampant media speculation regarding the Budget's likely contents.
- The tone taken by PM Sir Keir Starmer and Reeves towards the Budget has been one of fixing the problems they say were left by the previous Conservative administration. However, these comments' downbeat nature has contributed to a negative feedback loop.
- As the latest More in Common poll reports, "Heading into the Budget this Autumn, Britons are deeply worried. 68 per cent say they are pessimistic about the Budget and the word cloud on the budget shows how concerned people are. The top words used to describe how people feel about the budget are “worried”, “nervous”, and “apprehensive”. Such emotional tension before a scheduled budget event is deeply unusual."
Chart 1. Sir Keir Starmer Approval Rating
Source: More In Common, Deltapoll, Opinium, YouGov, BMG, Wethink, MNI
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.
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