Lack of growth is piling pressure on pensions and retail investing to “save” the UK economy, according to Rachel Vahey, head of public policy at AJ Bell.
Speaking on the FT Adviser podcast, Vahey alongside Charlie Barnes, head of employment legal services and Stephanie Court, private client tax director both at RSM UK, dissected the Spring Statement and what it could mean for future fiscal events.
“It was a bit of a peculiar fiscal event. It was neither fish nor fowl. It was neither a proper spring forecast like the chancellor really wanted, and it wasn’t a Budget either.
“One of the nicer surprises was the OBR forecast for growth. Now that was obviously not very good for this coming year as they cut it by half, but for future years it was showing a better growth forecast than was predicted in the autumn.