How Will Hammond Deal With Rising U.K. Inflation?
Chancellor of the Exchequer Philip Hammond will reveal the cost of leaving the European Union when he announces his Autumn Statement on Wednesday. Britain will borrow an extra 110 billion pounds ($137 billion) over the next four years as slower-than-predicted growth hits tax revenue, according to independent forecasts compiled by the Treasury. Instead of a surplus in 2020, as his predecessor George Osborne had pledged, Hammond is expected to say the deficit will still be running at about 30 billion pounds. JPMorgan Asset Managment Global Market Strategist Michael Bell discusses with Anna Edwards and Yousef Gamal El-Din on "Bloomberg Daybreak: Europe." (Source: Bloomberg)