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KEY EVENT PREVIEW: AUTUMN STATEMENT 2015 by LLOYDS BANK

Lloyds Bank, headline sponsors of MACH, have sent us a preview of the 2015 Autumn Statement that will be given by the Chancellor of the Exchequer next week.  They suggest that George Osbourne will largely stick to his plans for austerity for the UK economy, although he will have to address twin issues of an overrun in the public finances this year and to find a way to handle the issue of tax credits, following the rejection of the original plans by the House of Lords.

Overall, Lloyds don’t expect the outcome of the statement to make much impact on either interest rates or exchange rates although, if the Chancellor does deliver another £20 billion of budget cuts, then both of these macro-economic trends may come under some further downward pressure.