Budget: Hostile market response as chancellor suffers Halloween nightmare

  • 📰 SkyNews
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 67%

Switzerland Nachrichten Nachrichten

Switzerland Neuesten Nachrichten,Switzerland Schlagzeilen

Rises in gilt yields and falls in sterling are still far shy of what took place in the run up and aftermath of the notorious 2022 mini-budget. However, the reaction from markets to the chancellor's big debut is still pretty awful.

First things first: don't panic. What you need to know is this. The budget has not gone down well in financial markets. Indeed, it's gone down about as badly as any budget in recent years, save for Liz Truss's mini-budget. The pound is weaker. Government bond yields have gone up. That's precisely the opposite market reaction to the one chancellors like to see after they commend their fiscal statements to the house. In hindsight, perhaps we shouldn't be surprised.

But nor is it anything like good news for the government. In fact, it's pretty awful. Because higher borrowing rates for UK debt mean it will end up paying considerably more to service our debt in the coming years. And that debt is about to balloon dramatically because of the plans laid down by the chancellor this week. And this is where things get particularly sticky for Ms Reeves.

Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:

 /  🏆 35. in CH
 

Vielen Dank für Ihren Kommentar.Ihr Kommentar wird nach Prüfung veröffentlicht.

Switzerland Neuesten Nachrichten, Switzerland Schlagzeilen