020 7898 0500It was a quiet start to the week for the UK, although we learned that the result of the EU referendum is having a significant impact on London house prices. Figures released from Your Move showed that prices in our nation’s capital have fallen by as much as 15% in the past year along. That is the biggest decline since 2009, although prices in other parts of the UK have risen.
Meanwhile, Visa reported that UK consumers spent less on their credit cards last month in further signs that the British public is feeling the pinch created by inflation consistently outpacing wage growth. Card spending dropped by 1.1% in February and dropped by 1.2% in January. According to Visa, this means the first quarter of 2018 is set to be the worst on record.
Today’s highlight is the Spring Budget 2018. In actual fact, it isn’t a budget as such, more of a Spring Statement. For years there have been two annual budgets but this was changed and so today we will see an update on economic and public finance forecasts and that’s about it. It will be interesting to see if Chancellor Philip Hammond provides any indication of future spending, but this is by no means guaranteed.
