Our monthly economic review is intended to provide background to recent developments in investment markets as well as to give an indication of how some key issues could impact in the future. It is not intended that individual investment decisions should be taken based on this information; we are always ready to discuss your individual requirements. We hope you will find this review to be of interest.
Does the Budget signal an end to austerity?
Philip Hammond used his Autumn Budget Statement to declare: “the era of austerity is finally coming to an end”. However, while the Chancellor did certainly loosen the purse strings, his bold pronouncement may be a little premature. Mr Hammond’s Budget Speech delivered on 29 October was designed to change the government’s tone with regards to tax and spending. Specifically, he signalled a tax giveaway by announcing
an increase in the personal allowance threshold to £12,500 and a rise in the higher
rate income tax threshold to £50,000 from April 2019. Both moves are being introduced a year earlier than planned.
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