Autumn Statement 23: 'Last roll of the dice' for government pre-election
'Today’s Autumn Statement demonstrates the pressure the government is under with an election imminent over the coming year.' Picture by Simon Dawson / No 10 Downing Street
UK general elections have to be called no more than five years apart, meaning the next election must take place by 28 January 2025.
Charles Hepworth, investment director at GAM Investments, said the latest fiscal plan may be «last roll of the dice» for Chancellor Jeremy Hunt, who promised a wide-ranging set of reforms and tax cuts for business and individuals.
«With the Treasury now in a better fiscal position compared to the Spring Budget earlier this year, there must have been pressure from the prime minister to offer something to an electorate that on current polling they fear losing,» Hepworth said.
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Azad Zangana, senior European economist and strategist at Schroders, echoed Hepworth's election speculation, adding they had not expected to see Hunt roll out as many measures — 110 in total — at this stage.
«We thought we would see more pre-election giveaways at the next Budget,» he said. «Today's Autumn Statement demonstrates the pressure the government is under with an election imminent over the coming year.»
Andy Butcher, financial planner at Raymond James, said that «in a bid to change the tide on the polls, Jeremy Hunt announced in his Autumn Statement plans to boost output and investment, while helping Britons keep more of what they earn».
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However, he said he felt the chancellor had fallen short, leaving «noticeable gaps» in his announcement, including widely speculated
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