The UK Chancellor’s Spending Review is setting the stage for a fresh wave of tax rises in the Autumn Budget, and it will only accelerate the number of high-net-worth individuals and wealth generators fleeing Britain for lower-tax jurisdictions, warns the CEO of one of the world’s largest independent financial advisory and asset management organisations.
Investors should be preparing now for a turbulent summer as markets face a “perfect storm” of low liquidity, heightened geopolitical tension, rising inflationary pressures, and ongoing debt dilemmas, warns one of the world’s leading financial advisory and asset management organisations.
Sterling slipped against a stronger Dollar on Wednesday as markets awaited a major UK spending review later in the day, to be presented by Chancellor Rachel Reeves, who is expected to outline the allocation of public funds.
Sterling declined against both the Dollar and the Euro on Tuesday after weak UK labour market data strengthened expectations of further interest rate cuts by the Bank of England this year.
