Britain's City and business lobby are clamoring for sweeteners in the spring budget to replace generous investment relief that is expiring just as corporation tax is due to rise
in November that Britain's economy would shrink by 2% in 2023. NatWest is now forecasting 3.7% growth this year.
That may affect sterling, as well as debt-dependent equity sectors like homebuilders and property landlords. Hunt will likely keep the budget "reasonably dull" after Truss's "mini-budget" sent sterling to its lowest on record, she added.Borrowing expectations for the 2023/24 financial year are likely to be lower than the indicative estimate from Hunt's Autumn Statement, with an unusually wide range of estimates for how much they will fall.
According to UBS' Khanna, a 225-billion pound projection would either generate a rally in gilts, or cause traders to question the feasibility of such a low figure. A number above 275 billion would push yields up, he said.
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