12 March 2018
Will the Spring statement bring the end of austerity?
After years of austerity, the Chancellor of the Exchequer could begin loosening the purse strings as he is expected to announce the smallest budget deficit since 2002 in tomorrow’s Spring Statement.
Naeem Siddique, Investment Manager, Redmayne Bentley, said: “While it is not expected to bring any major changes for investors and savers, tomorrow’s Spring Statement may see some more positive news than we’ve seen in Budget statements of recent years.
“After eight years of public spending cuts, the Government will be keen to generate some more positive headlines and we could see the announcement of some giveaways to take attention from Brexit talks and bring the British public on side. The headlines may say that the age of austerity begins to draw to a close, but further evidence of solidity in the UK economy will have to come through in growth rates. Easing the burden on working families and helping the NHS and its employees should assist in creating some positive press.”