UK Budget - Hammond may have more cash to play with
UK Budget preview - Hammond may have more cash to play with
Shaun Richards of Not a Yes Man Economics talks to Matt Brown about the UK Budget, Bank of England and OBR latest statistics. Ahead of the Hammond's first Autumn Budget, Richards talks about the Bank of England requesting an extra £25 billion to use for the UK Banks. This due to the economy being stronger and therefore lending is increasing. Richards questions the thinking behind the increase and should it be seen as a positive or negative for the UK Economy. With the Bank of England raising rates and yet banks may now offer cheaper mortgages. Will the extra funds trickle down to unsecured debt and car financing agreements.
Richards discusses the boost to house-builders and how Hammond may actually have more cash to spend and commit than some commentators had previously thought. Will Hammond deliver a blockbuster budget? How will markets and voters react to productivity predictions for the UK Economy in the future.
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