Danni Hewson, head of financial analysis at AJ Bell, said: “It feels like everyone’s got Budget fatigue and we’re still a week away from the Chancellor telling us who’s going to have to replenish the Exchequer’s coffers, and how much they’re going to be on the hook for.
“If it hadn’t all been so haphazard, one might have suspected Rachel Reeves of pulling a blinder, seeing as rumours of an income tax hike helped keep bond yields down, just while the OBR was compiling market data for its forecasts.
“As it is, everything feels confused and downbeat ahead of the Budget, and there is a cost to the negative vibes in terms of economic activity.
“Figures from the British Retail Consortium and Opinium show that consumer confidence has taken a hit, which means it might be a lean Christmas for the retail sector.
“Rachel Reeves has understandably championed fiscal prudence to keep bond markets onside, but some might argue she could at least pepper the gloomy messaging with some rays of hope to give businesses and consumers just a hint of optimism for the future.”
Contact details are available to account holders.
Create a free account to get in touch with this expert.