The UK economy has provided a relatively supportive backdrop for the consumer over the past year, who have benefitted from jobs growth, cheaper oil, and a near-zero inflationary environment.

Globally, approximately $5.5trn of bonds trade with negative yields and nearly one quarter of the world's GDP comes from countries with negative interest rates.

The pharmaceutical and biotechnology sector has performed well in recent years, primarily by virtue of attractive fundamentals.

Recovery in domestic economy

Focus on highly successful SME businesses

Stronger than 2015

Tech not immune from growth concerns

Gap in GDP growth between India and Brazil increases

Regulation is not helping

Morgan Stanley and Baillie Gifford discuss