Report
UK Budget Outlook: Restoring the Fiscal Buffer Amid Challenges
Investors were caught off guard because the Chancellor was reported as no longer planning to raise the more straightforward and revenue-generating income tax . Yet , we believe that she still has the maneuver to stay on track to meet her fiscal objectives. While some measures might be “harmful”, we still expect the growth prospects to be buoyed by higher public investment that is not included in the measure of fiscal rule of the current budget surplus by 2029-30. Overall, in our view, the concern of investors about the risk of limited fiscal consolidation is exaggerated as we think the UK government has at its disposal several other options to control the deficit without dampening too considerably growth prospects.
Provider
Natixis
Based across the world’s leading financial centers, Natixis CIB Research offers an integrated view of the markets. The team provides support to inform Natixis clients’ investment and hedging decisions across all asset classes.
Sylwia Hubar
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