15 March 2023 - Hunt promises back to work budget

The year since the last budget has seen major upheavals in the economy and political landscape. There have been three Prime Ministers, while the 2022 budget was delivered by the current one. There is always speculation about what the budget will contain, and this year is no expectation. With talks continuing over public sector pay, Jeremy Hunt has already indicated that there will be no fresh funds allocated to that sector. It appears that the biggest additional funding will come in the area of childcare, where around an additional four billion pounds will be allocated to provide free childcare to one and two-year-olds. Yesterday’s release of employment data showed that the claimant count fell for the eighth consecutive month, although wages are still failing to keep pace with inflation. Having seen an exodus of EU workers following Brexit, the plan is to plug that gap to a certain extent, by encouraging a return to the jobs market for those who have been providing care for their own children. It is estimated that 90% of those are women. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.