Financial markets are on edge as concerns grow that the upcoming October 30 UK Budget could trigger a repeat – but not of the same scale – of the market chaos that followed Liz Truss’s infamous 2022 mini-budget. This is the warning from Nigel Green, CEO of deVere Group, one of the world’s largest independent financial advisory organisations, as Chancellor Rachel Reeves today submits her tax and spending plans to the Office for Budget Responsibility (OBR).
Calls for Chancellor Rachel Reeves to introduce an exit tax on the wealthy are “fundamentally flawed,” warns the CEO of one of the world’s largest independent financial advisory and asset management organisations. The warning from Nigel Green of deVere Group comes as economists and think tanks have urged Labour to implement the levy to raise as much as £500 million a year and discourage departures.
The stock market never stands still. Indices and stocks experience gains and losses daily. In stable markets, these indices and stocks move less than 1% either way. Market volatility occurs when there are drastic price changes (more than 1%) to an index or stock.
