The next general election won’t be as pivotal for the economy or the markets as the elections in 2017 and 2019. Moreover, whoever wins will be constrained by interest rates having risen relative to economic growth, which means fiscal policy will be tighter than in the past decade, and a more challenging global backdrop should Trump win the US election. To the extent that there are differences, under Labour more of the required tightening in fiscal policy may be achieved by higher taxes rather than lower spending.
We will be discussing whether the next government will move the dial on the economy in a 20-minute online briefing at 3pm GMT on Wednesday 13th March. (Register here.)
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