Articles

Labour’s Budget: Trick or Treat?

calendar icon 01 November 2024
time icon 3 mins

Here's a snapshot of the key takeaways

  • The Budget included significant increases to government spending, taxes, and borrowing.
  • Economic growth should be stronger over the near term but there's little impact over the medium term.
  • The initial market impact was limited but gilt yields started to rise in the afternoon following the Budget.

Labour’s much anticipated first Budget was announced on 30 October.

As we mentioned in our previous article on the Budget, in the context of a globally diversified portfolio, it's a relatively insignificant event (tax changes aside). Any potential impact on portfolios was likely to come through the gilt market, or indirectly through sterling. 

Click below for full article where our experts explore any initial market impact and what this could mean for the UK economy going forward. 

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