Budget dilemmas in the UK and France
by AIB Treasury Economic Research Unit
- While much speculation surrounds the contents of UK Chancellor Reeve’s first Budget on October 30th, the budget presented by the new French Government highlights the fiscal constraints facing some of Europe’s largest economies.
- With the budget set to be scrutinised by the French Parliament in the coming weeks, the minority Government faces a political tightrope to pass the measures.
- Elsewhere, UK media reports suggest the Chancellor is contemplating several tax increases, with a hike in capital gains tax chief among the changes being considered.
- Turning to the week ahead, the spotlight will be on the ECB Governing Council meeting.
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