While No 10 has insisted it will “absolutely deliver” on its pledge to restore economic stability, financial experts warned the plans could trigger investor backlash. This comes amid speculation chancellor Rachel Reeves is preparing to overhaul the fiscal regime to unlock £50bn of extra spending.
Ms Truss sparked gilt market freefall and a run on sterling after introducing unfunded tax cuts in her 2022 mini-Budget.
Nigel Green, chief executive of deVere group – one of the world’s largest independent financial advisory organisations – told The Independent: “In the weeks leading up to the Budget, UK gilt yields – widely seen as a barometer of investor confidence – have surged from 3.75 per cent to around 4.2 per cent. This rise, a clear signal that investors are offloading government debt, indicates growing concerns that the chancellor may prioritise fiscal stimulus over long-term sustainability.
Bu hikaye The Independent dergisinin October 10, 2024 sayısından alınmıştır.
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Bu hikaye The Independent dergisinin October 10, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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