Mar 4, 2021 09:22 GMTFXStreet News
Further covid support in the UK Budget was offset by increased taxes in the next five years. Vaccine rollouts and restriction easing should keep the GBP/USD pair within a lower 1.38-1.43 range, economists at Westpac report.
See: GBP/USD to hold below the 1.42 level through the spring – Rabobank
Key quotes
“The UK’s March 2021 Budget once again underscored the extraordinary scale of the UK’s support for the economy. Even though Chancellor Sunak announced yet further extensions and increases in fiscal support to offset the impacts of the covid pandemic, the latest Office of Budget Responsibility Economic and Fiscal Outlook profiles an improved economic outcome from Nov ‘20 which pulls down the 2020-21 peak in Public Sector Net Borrowing from 19.0% of GDP to 16.9%.”
Pound Sterling Price News and Forecast: GBP/USD to remain in an effective 1 38-1 43 range fxstreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fxstreet.com Daily Mail and Mail on Sunday newspapers.
10 key takeaways from the Budget
Wednesday 3 March
The Office for Budget Responsibility Economic and Fiscal Outlook said the DWP had identified underpayments of state pension relating to entitlements for certain married people, widows and over-80s back to 1992 .
From extending the stamp duty holiday, revisiting DC investments to cancelling alcohol duties. Here are 10 key takeaways Professional Adviser believes members of the financial services sector ought to know.
On Wednesday (3 March), Chancellor of the Exchequer Rishi Sunak delivered the Spring budget, outlining what he has planned as we start to come out of lockdown while proposing what he intends to achieve.
Spring Budget 2021: DWP to backdate £3bn in state pension underpayments to women
Over next six years
The Department for Work and Pensions (DWP) has forecast a payment of £3bn over the next six years to address underpayments of the state pension to women dating back two decades.
Published on Wednesday (3 March), the Office for Budget Responsibility Economic and Fiscal Outlook said the DWP had identified underpayments of state pension relating to entitlements for certain married.
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