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Surprise for Sterling in UK's Autumn Statement?

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Senior UK Economist for Panmure Gordon in London and former UK civil servant, Simon French, pre-views the UK government’s Autumn Statement. 

Tomorrow, the 3rd of December, the Chancellor of the Exchequer, George Osborne, will give his annual Autumn Statement to the British Parliament. The statement aims to provide an update on the government’s future economic plans for the UK economy, in this case for the period 2018-19.

During the Autumn Statement the Chancellor will update the UK Parliament on the government’s taxation and spending plans, which are based on the latest forecasts for the UK economy, from the OBR (Office for Budget Responsibility).

Depending on which measure you believe, Britain is currently the fastest growing economy in the developed world with an annualised growth rate of around 3%. Job creation is on the right track as well, but unfortunately this has not filled Treasury coffers. Treasury officials thought they’d have an extra £11bn from tax this financial year but the actual number has come in at less than £2bn.
So is the UK economy really performing as well as it’s being presented by the government? How will the markets translate the highly political pre-election Autumn Statement?