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UK: Sky-Chancellor To Deliver Mansion House Speech 14 Nov

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Sky News reporting that Chancellor of the Exchequer Rachel Reeves will deliver her first Mansion House speech on 14 November. The annual address to financiers and business leaders is jointly organised by the Treasury, BoE and City of London Corporation, and is seen as a chance for the chancellor to set out their economic vision for the year ahead. 

  • The speech will come two weeks after the Budget statement to the House of Commons on 30 October. Sizeable tax hikes on areas such as capital gains, inheritance, and the banking industry are just some of those that are seen as likely to be implemented by the Labour gov't.
  • As such, Reeves could face a frosty reception from representatives of the UK's financial services sector at the Mansion House dinner.
  • The news of the Mansion House speech comes as Reeves offers signs that she may be inclined to loosen her fiscal rules in order to spur investment in major infrastructure projects. The BBC reports that "The government will prioritise and increase investment in major projects at this month’s Budget, Chancellor Rachel Reeves has said. In addition, she announced a nearly £22bn investment in two major new carbon capture schemes over 25 years."
  • It should be noted that today marks the deadline for a decision on whether to go ahead with the GBP8.3bn Lower Thames Crossing. The gov'ts decision could be seen as something of a litmus test for its claims on capital spending. 
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Sky News reporting that Chancellor of the Exchequer Rachel Reeves will deliver her first Mansion House speech on 14 November. The annual address to financiers and business leaders is jointly organised by the Treasury, BoE and City of London Corporation, and is seen as a chance for the chancellor to set out their economic vision for the year ahead. 

  • The speech will come two weeks after the Budget statement to the House of Commons on 30 October. Sizeable tax hikes on areas such as capital gains, inheritance, and the banking industry are just some of those that are seen as likely to be implemented by the Labour gov't.
  • As such, Reeves could face a frosty reception from representatives of the UK's financial services sector at the Mansion House dinner.
  • The news of the Mansion House speech comes as Reeves offers signs that she may be inclined to loosen her fiscal rules in order to spur investment in major infrastructure projects. The BBC reports that "The government will prioritise and increase investment in major projects at this month’s Budget, Chancellor Rachel Reeves has said. In addition, she announced a nearly £22bn investment in two major new carbon capture schemes over 25 years."
  • It should be noted that today marks the deadline for a decision on whether to go ahead with the GBP8.3bn Lower Thames Crossing. The gov'ts decision could be seen as something of a litmus test for its claims on capital spending.