Five things to watch out for in Rishi Sunak's spending review

News, market analysis, investment scam prevention tips and more ✔️ Your source for latest asset management news and information. This magazine is crafted specifically for those who are interested in diving into the global asset management world. The Covid-19 pandemic has forced Rishi Sunak to postpone both his planned autumn budget and the announcement of plans for public spending until the middle of the decade. So uncertain is the short-term outlook that the chancellor will now outline what the government intends to spend for one year only, 2021-22. These are some of the things to look out for.New forecasts for growth and the public financesAfter taking account of any decisions Sunak will make on Wednesday, the independent Office for Budget Responsibility will provide an assessment of the outlook for the economy. During the early stages of the crisis, the OBR said output was likely to shrink by 13% in 2020, making it the worst slump in more than 300 years. The new forecasts will not be as bad as that, but the tightening of restrictions this autumn during the second wave of the pandemic mean the OBR will still be looking at a double-digit fall in GDP of about 11% and a budget deficit in the region of £400bn – a peacetime record.Watch out for Extent of long-term scarring to the economy.Public sector pay squeezeOne of the themes of the spending review will be that To keep reading about Five things to watch out for in Rishi Sunak's spending review, Click on the link. Seoul, Korea
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