David Buik, Senior Market Commentator for Panmure Gordon, joined today’s Tip TV Finance Show, along with Zak Mir, Technical Analyst at Zak’s Traders Café, and Mike Ingram, Strategist for BGC Partners, to speak on UK budget, Carney, and the migration-social welfare problem.
Key points:
Consumer borrowing too frothy according to the Bank of England
Carney determined to get deficit down by £20 billion, can only hammer the HRMC, Ministry of Defence, Department of Justice and the Home office
Carney: plans to increase defence spending by around £12 billion over the next 10 years
Carney has misunderstood the economy and how much revenue was cyclical rather than structural after the financial crisis
Social welfare bill looks horrific now. Proper migration creates growth
Austerity only really starting now
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