I have never been so uncertain. I thought CGT and NI was going to get hit, then it was a wealth tax, then a load more borrowing to now when it seems us middle England are the people he really despises now.
I actually feel like selling everything and saying ***** you Starmer, get on with it, just put everything on deposit and enjoy the interest rate hikes as they destroy the economy.
Will be interesting to see if brokers can handle the volume (up or down!) when the budget news finally breaks. I suspect even the online brokers will be stalled and unavailable. Another reason to be out of the market.
No cuts in Stamp duty imo, this government is out to get in everything it can so why would they? If they hike CGT I expect to see selling right up to the deadline Labour set imo.
Well the Israel response is out now so that's something dome that never hit Iran's nuke sites.
We are clearly being run as a country by someone that isn't honest, twists his words and has no credibility. Markets just won't invest heavily in the UK with that uncertainty or lack of credibility imo.
The £22bn black hole seemed enough but to up it all now to £45-£50bn and be wasting it on £12bn Climate Aid, £22bn Carbon capture, ever increasing illegal migration budget while adding a drain on business with higher NI is just the opposite of what is needed.
Not great for UK co's with high employees in the UK.
We have another budget in March too I would expect, can't imagine things will be looking easier then.
I enjoy the weekly updates - thank you! I'm not half as worried about the budget though. I genuinely don't think Labour can do any worse than the chaos and uncertainty created from Brexit and the political and macro instability thereafter. This feels like relative stability to me. I anticipate some shifts to CGT, NI, as trailed, but if they can demonstrate that the tax changes make sense (fairness, practicality), can enhance growth (maybe in exchange for changing CGT you get a cut to stamp duty), and aren't massive and unfunded (aka Kwarteng and Truss) then I don't think markets will react too much. But the budget does feel like a long time coming. Let's see!
On the one hand well researched companies are cheap, and on the other a looming budget which could temporarily destroy confidence in our economy and currency depending on how deep Labour goes.
Do you go all in or all out? Or somewhere in between?
Add to that the uncertain US election and Israel’s yet to be revealed response……..?
Thankd Richard. I am hoping the market picks up when Reeves has finally unleashed her wrecking ball and the dust settles. The low volumes have put me off investment so I am 90% still in cash but have had a tickle with CORD and AVAP. GMS gyrates so much it is only for scalpers IMHO. Nothing else on the market seems risking hard-earned dosh for whilst Reeves is still unchained. All the Best.
I have never been so uncertain. I thought CGT and NI was going to get hit, then it was a wealth tax, then a load more borrowing to now when it seems us middle England are the people he really despises now.
I actually feel like selling everything and saying ***** you Starmer, get on with it, just put everything on deposit and enjoy the interest rate hikes as they destroy the economy.
Let's see.
I reduced down when the bowl fell through, saw the volume, could do with it being a lot more.
They will be git quite hard by another 2% NI, more than most co's so not keen to buy them all back again - will watch
Yes, the air needs to be cleared, you can't invest with this uncertainty.
Weds will be interesting.
Will be interesting to see if brokers can handle the volume (up or down!) when the budget news finally breaks. I suspect even the online brokers will be stalled and unavailable. Another reason to be out of the market.
No cuts in Stamp duty imo, this government is out to get in everything it can so why would they? If they hike CGT I expect to see selling right up to the deadline Labour set imo.
Well the Israel response is out now so that's something dome that never hit Iran's nuke sites.
We are clearly being run as a country by someone that isn't honest, twists his words and has no credibility. Markets just won't invest heavily in the UK with that uncertainty or lack of credibility imo.
The £22bn black hole seemed enough but to up it all now to £45-£50bn and be wasting it on £12bn Climate Aid, £22bn Carbon capture, ever increasing illegal migration budget while adding a drain on business with higher NI is just the opposite of what is needed.
Not great for UK co's with high employees in the UK.
We have another budget in March too I would expect, can't imagine things will be looking easier then.
yes, I doubt Reeves is going to sleep well over the next week :-)
I enjoy the weekly updates - thank you! I'm not half as worried about the budget though. I genuinely don't think Labour can do any worse than the chaos and uncertainty created from Brexit and the political and macro instability thereafter. This feels like relative stability to me. I anticipate some shifts to CGT, NI, as trailed, but if they can demonstrate that the tax changes make sense (fairness, practicality), can enhance growth (maybe in exchange for changing CGT you get a cut to stamp duty), and aren't massive and unfunded (aka Kwarteng and Truss) then I don't think markets will react too much. But the budget does feel like a long time coming. Let's see!
CR are you still long CARD? Nice vol friday.
It’s very uncertain.
On the one hand well researched companies are cheap, and on the other a looming budget which could temporarily destroy confidence in our economy and currency depending on how deep Labour goes.
Do you go all in or all out? Or somewhere in between?
Add to that the uncertain US election and Israel’s yet to be revealed response……..?
Thanks Rebel
A pretty uninspiring week.
Took a small punt on Luce today given the recent decline. Have been waiting for FCH to fall back to buy more. People obviously like it too much!
Looks like a nice triple bottom on AT. as well.
I guess the market really doesn’t know what to make of the budget and what damage could be done to confidence, and how the markets could react?
Thankd Richard. I am hoping the market picks up when Reeves has finally unleashed her wrecking ball and the dust settles. The low volumes have put me off investment so I am 90% still in cash but have had a tickle with CORD and AVAP. GMS gyrates so much it is only for scalpers IMHO. Nothing else on the market seems risking hard-earned dosh for whilst Reeves is still unchained. All the Best.