UK Budget Proposal: Beans on Toast or Sunday Roast?

Insights by Thornburg IM


  1. "Given the massive pressure on households from inflation, tax cuts for high earners are unlikely to be popular".
  2. "Liz Truss didn’t come in with a strong mandate for change. If there were a mandate for change, it was about a return to responsible governance which these measures are not".
  3. "The budget proposal increases the odds of a Labor government next time around. The next election is not scheduled until January 2025 and a lot could change by then, but it can be brought forward under unusual circumstances"