Spring Statement offers 'light relief in face of heavy realities'

Actions fall short

Chancellor Rishi Sunak gave his Spring Statement last Wednesday (23 March), which analysts said did little to address the headwinds threatening the UK’s economic recovery.

"Is that it?" asked Myron Jobson, senior personal finance analyst at interactive investor. Oliver Jones, asset allocation strategist for Rathbones, said the statement "did not fundamentally alter the fact that the outlook for the UK economy is darkening," flagging three potential headwinds for the UK economy. Inflation Inflation is front of mind for many analysts, as it reached a 30-year high of 6.2% in February and is set to climb above 8% in April. Inflation is now predicted to average 7.4% throughout 2022. UK inflation continues to climb to highest rate in 30 years With wag...