Spring Budget 2024: Tax cuts are ‘bad economics and politics’ and voters prefer investment, Tony Blair Institute finds February 28, 2024 "Not only are tax cuts bad economic policy right now, our new polling suggests they may also be bad politics," Tom Smith, director of economic policy at the TBI said.
Moving markets: Five things shaping the FTSE 100 today February 28, 2024 Asian markets stalled as investors awaited U.S. inflation data, while the New Zealand central bank maintained interest rates. Bitcoin surged to $57,622, but oil prices fell. Attention now turns to U.S. GDP figures and Federal Reserve speeches.
FTSE 100 live: London markets flat despite inflation boost, miners rise February 27, 2024 Markets were also given a lift by the news that shop price inflation slowed to 2.5 per cent in February, the lowest level seen in two years.
Bank’s Ramsden: ‘More evidence’ needed that inflation has been tamed before rates can go down February 27, 2024 Markets expect the Bank of England to start cutting interest rates in the summer, with three cuts priced in for 2024.
Why high rates affect the UK’s public debt more than other G7 countries February 27, 2024 As the Chancellor comes under pressure to cut taxes in the Spring Budget, he will be forced to consider the surge in the UK's public debt interest costs.
Budget: Hunt should prioritise cutting ‘damaging’ stamp duty rather than income tax, IFS says February 27, 2024 Despite the government's parlous fiscal position, with debt at its highest level since the 1960s, Jeremy Hunt is all but certain to unveil tax cuts in the Budget next week.
FTSE 100 today: London markets set for a cautious start following Wall Street slippage February 27, 2024 Asian markets echo Wall Street caution, with the dollar weakening and Bitcoin surpassing $57,000. Japan's core inflation declines. Investors await pivotal inflation data for market insights and investment decisions.
FTSE 100 close: Housebuilders drag London’s premier index into the red after CMA warning February 26, 2024 The biggest news of the morning was the Competition and Markets Authority's (CMA) announcement that it had found "fundamental concerns" with the housebuilding market.
Budding economic recovery set to support sterling in weeks ahead, analysts argue February 26, 2024 A budding economic recovery and a later start to the Bank of England's interest rate cuts will support sterling over the coming weeks.
Encourage investment and tackle skills shortages in Spring Budget, businesses say February 26, 2024 Chancellor Jeremy Hunt is unlikely to have significant scope for major tax cuts given the constrained fiscal position, but businesses are hoping Hunt will announce further measures to boost the economy.