These Are the Stocks to Watch as Hammond Delivers U.K. Budget
- Retail, homebuilders, bookmakers, banks among sectors in focus
- Another budget likely after final Brexit deal agreed: SocGen
This article is for subscribers only.
Ending the era of austerity. That’s what U.K. Chancellor of the Exchequer Philip Hammond is under pressure to do in an Autumn budget that follows eight years of spending cuts and which will be delivered in the shadow of ever-fraught Brexit negotiations.
In order to do so, he’ll be partly dependent on the Office for Budget Responsibility reducing its borrowing forecasts, in a move that’s akin to pulling 13 billion pounds ($16.7 billion) “from down the side of the sofa,” HSBC Senior Economist Elizabeth Martins wrote in a report.