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Building brown number press 611p
Building brown number press 611p








building brown number press 611p

The UK government will be judged on the decisions it will announce today - decisions that will cut spending too deeply, too quickly and in the wrong place. According to PoliticsHome, this is what she said: Sterling and gilt investors are understandably edgy with the Bank of England's monetary policy committee minutes emerging ahead of the CSR," he said.ĩ.41am: Monthly public sector net borrowing was higher than expected at £16.2bn in September, the Office for National Statistics has just announced.ĩ.55am: Hazel Blears was being interviewed by the BBC alongside Tim Farron and, when he said that he wanted up to 90% of the cuts being announced today to be reversed at some point in the future (see 9.36am), she identified this as a split within the coalition. "Although there will undoubtedly be some stock-specific implications, the overall effect on an equity market dominated by companies that generate the majority of their revenues outside the UK will be modest. Outsourcing group Serco is down 15.5p at 611p as investors weigh up whether the sector will be a winner or loser from the cuts, with many believing there could be a short-term dip but longer term benefits for the businesses.īut Ian Williams at Altium Securities pointed out that the spending review will have little impact on the bulk of the companies on the UK equity market. BAE Systems is 11.7p lower at 352.2p after yesterday's news of a 8% reduction in defence spending over the next four years. The FTSE 100 is down 16.09 points at 5687.80, with a number of companies likely to be affected by government cutbacks among the losers. This is a temporary necessity.ĩ.43am: What are the markets doing in advance of the CSR? My colleague Nick Fletcher has sent a quick summary. But 80, 90% of the things that are cut today are important and good things that we should restore as soon as the country's finances are back in shape. There will be some waste to be cut today. This is what the Lib Dem deputy leader told BBC Breakfast: As I said, it's news overload.Ĩ.35am: The comprehensive spending review (CSR) will have Lib Dem "footprints" all over it, Simon Hughes said this morning. Oh, and we've got prime minister's questions too. I'll post the highlights this morning, as well as covering the build-up to the announcement. I haven't looked at the other papers yet, but I'm about to plunge in. And this interactive shows what has happened to public spending in Britain since 1948. At the Guardian's Datablog, Gemma Tetlow of the Institute for Fiscal Studies says the £83bn cuts supposedly being announced today really only amount to £49bn.

building brown number press 611p

Larry Elliott has looked at the economics of today's announcement, and he says Osborne's cuts could " accelerate the economy's slide back towards recession".

building brown number press 611p

"Haggling over the deepest public spending cuts since the second world war has culminated in the BBC being forced to accept a 16% budget cut that will see its licence fee frozen for six years and the corporation taking over funding of the World Service from the Foreign Office," he reports. If you're looking for a good place to start, try Patrick Wintour in the Guardian today. Keeping it up with it all is going to be tricky, but I'll be doing my best, blogging the news as it breaks and showing you where to find the best comment and analysis on the web. In public policy terms, this will probably be the most important day of this parliament, possibly of this decade. After he sits down, we're expecting a cascade of announcements from other government departments, as they explain in more detail what the decisions announced by Osborne actually mean. It will be like having four budgets rolled into one – only bigger. At 12.30pm George Osborne, the chancellor, will stand up in the Commons to announce what is being billed as the biggest programme of public spending cuts for 90 years. 8.23am: This will be a day of news overload.










Building brown number press 611p