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“I said on the first day that economic growth was now our national mission,” said the UK Finance Minister Rachel Rivz Her first home performance from the mansion Almost a year ago.
Fast forward to this day, and investors remain unconvincing, thundered by the slow economy, muted investment and debt in the UK, which is almost 100% gross domestic product (GDP), reports the budgetary responsibility department, a governmental fiscal watchdog.
The Chancellor of the upcoming Casker Riva’s mansion on Tuesday night will be a crucial moment for demonstrating the progress and signaling of the following steps that it will make to introduce growth into the UK economy.
Investors will look for stability and any clues in a speech on how the rivus and the Treasury can fill the potential black hole when they approach the autumn budget when taxation and cost of 2026 are laid out.
This year’s speech will be more interesting than most, according to George Bakley, the chief economist of the UK.
“I think that because of what is happening in the state finance and financial space, there will be much more interest in what Ms. Reiva can say. If you view preliminary performances at home, many of them speak of things as financial regulation, competition, financial sector,” he said.
“So, if you get a lot of this, perhaps there will be no great interest from the market. But any proposal about what can happen in the future budget in the fall, any discussion of fiscal policy will be high on the agenda, and we will watch it very carefully,” Bakley added.
There are some key areas that will be the focus.
It is expected to announce the overhaul of the pension regime, focusing on the adequacy of pension savings.
The pensions became an urgent problem for the work government after winning the choice last summer, as the cost increase was the dragging of the UK’s finance. ADA predicts that the state pension will cost even more in the future, increasing to 7.7% of GDP by the beginning of the 2070s.
This is reduced to the aging of the population, and the fact that it is known as the “triple castle”, where the state pension increases in accordance with inflation, wages increases, or 2.5%, depending on what is the highest.
But the government stated that it is committed to the triple castle during this parliament, which means that the savings should come from the other side.
“There are many pensioners who would be very upset if the triple castle would be abandoned. I think it is too politically charged to do a lot about it now, the government also stated that they would not raise taxes.
Many in the London city fear that the Reiviz will try to fill the increasing hole in their financial plans, increasing the taxes on the financial services sector, such as an increase in banking or wealthy people.
“I think the wealth tax is also quite politically charged. This is something that can raise quite a lot of money, but … there is a risk that it pushes people out of the country, brain drain, so to speak, and that they don’t want to do,” Bakley said.
The Treasury also plans to reduce the growth of red tape and spurs, cutting off parts of the senior executives and the certification regime, which covers almost 140,000 financing professionals.
Meanwhile, the chancellor reportedly put off any direct plans to make changes to cash savings accounts or Isas after strong opposition and consumer activists.
And all this happens against the background of increased pressure on the chancellor to attract confidence in her strategy, after a series of turns to reduce well -being and payment of winter fuel.
