Last decline by the sterling was due to the uncertainty before the first budget report after Brexit, which is today. Usually stand up to parliament happens around 14:30 GMT+2.
It is expected the report to bring more clarity to the updated annual plans for the economy. What we will follow today:
The forecasts for the economy in the report covering the next five years. This means that a lot of expectations for economic growth and public finances will depend on assumptions how the vote to leave the EU will affect the UK economy. Many analysts predict a slowdown of the economy and an increase in public spending and taxes.
The budgetary targets: Philip Hammond gave up plans for surplus until 2020, but noted that he will maintain fiscal discipline to keep the deficit to 4% of annual national income. The way to achieve that will be a new flexible system of fiscal rules and government taxes.
Business investment likely to fall after leaving the European Union, but the prime minister Theresa May confirmed plans to reduce corporate taxation in order to encourage companies to hire new employees and invest in the country.
Increase in investment in infrastructure is expected, which aims to support the short-term economic growth and more opportunities to increase productivity in the long run.
The Treasury early Thursday trailed that a package of measures targeted at working families will be included in the autumn statement, including a home-building project and a higher national minimum wage for workers over 25.
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