The Autumn Statement 2013
How has the UK economy performed since the coalition government came to power?
On December 5 2013, George Osborne will deliver the Autumn Statement, providing an update on the state of the UK economy. In the address, the Chancellor of the Exchequer will detail the coalition’s plans to reduce the budget deficit and extend the UK economic recovery into 2014. In a new infographic, Saxo Capital Markets outline the changes in the economy since the coalition government formed in 2010.
Saxo Capital Markets' latest infographic gives a snapshot of the UK’s public finances, the real economy and currency. In 2010, the Chancellor projected that the coalition would slash the structural budget deficit to zero by 2016. Three years on, net public debt has risen as a consequence of the government’s measures to reduce the deficit.
The infographic dissects the coalition’s performance so far, and Saxo experts offer projections on the likelihood of further cuts to the budget deficit, unemployment rates and the future of sterling. During the embryonic months of the coalition government, unemployment rates stood at 8%, today unemployment levels have dropped to 7.6%, reflecting a gradual improvement in the UK economy. Since the coalition came to power, sterling has strengthened against the US dollar and the euro. Saxo Bank’s John Hardy anticipates that sterling will weaken against the dollar and strengthen against the euro in 2014.
Do you think the Autumn Statement will present further green shoots of recovery? Is the UK better off today? Join the debate with Saxo on Twitter.
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