GDP slump piles pressure on chancellor ahead of budget
|Nervousness around the Budget has likely weighed on key economic drivers, while disappointing export performance to the US and a stagnating labour market have kept GDP in a chokehold.
With the economy losing steam, the ‘all but confirmed’ Budget tax rises look set to further unsettle businesses and households in the run-up to Christmas – dimming hopes of any material recovery.
Businesses are growing increasingly vocal about the Budget’s potential hit to profits and markets – and we’re seeing many boost their hedging to guard against volatility.
With just under two weeks til the Budget, businesses - especially SMEs - must limit their exposure to any shocks or market volatility by ensuring maximum preparation, securing access to flexible finance, and implementing robust FX hedging strategies.
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