We expect the Chancellor, Rachel Reeves, to raise taxes by about £38bn in the Budget on 26th November, which will trim GDP growth, weigh on inflation and contribute to more interest rate cuts. That is likely to be received warmly by the markets and could prevent Reeves from having to come back with more tax rises next year. But the stakes are high, and we can think of several ways the Budget could deliver a less market-friendly outcome, a bigger hit to GDP or higher inflation. No pressure, Rachel Reeves.
We’ll be discussing what to expect in the Budget in a special in-person roundtable event on 12th November at our London office (register here) and what happened in a 20-minute online briefing at 3pm GMT on 26th November (register here).
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services