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What to expect from the UK Chancellor's Spring...>

UK
UK: What to expect from the UK Chancellor's Spring Statement today (due just
after Prime Minister's Questions at 1230GMT):
Not expected to be a repeat of the 'giveaway budget' in October last year, with
no major policy announcements.
- OBR downgrades to official growth forecasts (had previously forecast 2019 at
1.6%, 2020 at 1.4%, 2021 at 1.4%, 2022 at 1.5%, 2023 at 1.6%)
- Stronger tax revenues (repeating October's unexpectedly high tax windfall)
- As a result, OBR likely to revise down borrowing forecasts (2019 borrowing
expected to be lowest since 2001-02)
- Further statements declaring an 'end of austerity' despite plans in October
still signalling cuts to 'unprotected' spending (basically anything outside of
health, defence and aid)

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