One cannot describe the reaction in financial markets as rapturous. Gilt yields initially fell, which was helpful for Rachel Reeves, but then rose. By late afternoon, the yield on 10-year government debt settled towards the upper end of the day's range. The move wasn't huge, but it cost the government slightly more to borrow for 10 years than before the chancellor spoke.
Call that a wait-and-see response. Investors aren't terrified by the prospect of higher government borrowing, but they can see that the plan to make the UK the fastest growing economy in the G7 probably won't be realised during this parliament. Even in 2028-29, on the Office for Budget Responsibility's forecasts, we'll still be looking at GDP growth of a lacklustre 1.6%.
Denne historien er fra October 31, 2024-utgaven av The Guardian.
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Denne historien er fra October 31, 2024-utgaven av The Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Rise lays bare the risks ahead for Labour
Any lingering hope that the Bank of England might deliver a pre-Christmas interest rate cut next month evaporated yesterday after official data showed inflation jumped to 2.3% in October.
'My way as a manager was taught by Bobby Robson'
George Burley is enjoying Ipswich's revival having reached great heights there more than 20 years ago
Tuchel takes goalkeeping coach Hilario from Chelsea
Thomas Tuchel's backroom staff has been bolstered by the addition of Henrique Hilario, who is ending his 18-year association with Chelsea to become England JS new goalkeeping coach.
Kosovo to take Uefa to Cas after Romania awarded points
Kosovo are preparing an appeal to the court of arbitration for sport (Cas) after Uefa handed them a 3-O defeat for walking off the field during Friday's Nations League tie against Romania in Bucharest, which was eventually abandoned when they elected not to return.
Staying power No relegation break clause in Guardiola's new City contract
Pep Guardiola's new one-year contract with Manchester City does not contain a break clause should the club be relegated from the Premier League if found guilty of financial wrongdoing by an independent commission.
Lopetegui's future to be decided in next two games
Julen Lopetegui is facing two make-or-break games at West Ham, who have used the international break to explore potential replacements.
City's empire faces a set of challenges that will test Guardiola's genius
After signing deal, manager is left with an ageing squad as threat of Premier League punishment looms large
Curry changing his technique to avoid more concussions
England are making changes to Tom Curry's all-action technique to ensure his safety after he returned to the fold for Sunday's clash with Japan following his latest concussion.
Sacking me won't help Wales, insists Gatland in plea for patience
The last rites, if that is what they are, are going to drag on a while longer yet. Warren Gatland has reiterated that he would resign as head coach if it were \"in the best interests of Welsh rugby\", while also making it Very clear that in his opinion it is not.
Bronze takes 65 seconds to fire Chelsea into last eight
Chelsea cruised into the knockout stages of the Champions League with two games to spare at Stamford Bridge.
