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Haldane Urges Tax Simplification to Boost UK Growth

On June 26, newspaper coverage highlighted Labour adviser Andy Haldane's recommendations to simplify Britain's tax code and cut regulation under a potential Burnham government, offering a mildly positive policy angle for UK equities. This follows sharp losses on June 23, when the FTSE 100 fell 0.7% amid hawkish rate expectations and weak PMI data showing a second month of contraction. The Flash Composite PMI slipped to 49.4 while services activity hit a 41-month low of 48.7, reinforcing concerns of flat Q2 growth amid political uncertainty.

Category

UK 100

Sentiment

Bearish

Event

Market commentary

Reading time

1 min