Jeremy Hunt’s Autumn Statement could prolong the cost-of-living crisis for millions of Britons but will help stabilise the UK markets following the turmoil of the mini-Budget, economists have said
could prolong the cost-of-living crisis for millions of Britons but will help stabilise the UK markets following the turmoil of the mini-Budget, economists have said.and spending cuts were aimed at reassuring the financial markets and sending the message that the “Conservatives being the party of economic conservatism had returned”, said Dr Tony Syme, a senior economics lecturer at the University of Salford.
He said: “Our view is that now was not the time for fiscal policy to tighten given the current economic situation of high inflation and falling real incomes and GDP [gross domestic product]. “This has not perturbed the bond markets though, which indicates that tax rises planned are enough to reassure investors that Jeremy Hunt has a firmer hand on the tiller of financial stability.”
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