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Investing in The Autumn Statement

Whilst the Chancellor’s Autumn Statement doesn’t carry the tax excitement of the spring budget, nevertheless it contains important information for those looking to invest over the long-term. This statement was no exception with spending on infrastructure and the NHS, national security and social welfare all being put under the spotlight.

When it comes to business, in addition to a range of measures to support and promote businesses large and small, special measures were announced to help a number of business sectors including aerospace, automotive, science and steel manufacturing. For those of us in the south-west the statement also contained three good pieces of news; firstly that the region has the highest level of employment anywhere in the country, secondly that the government will continue its provision of a £50 Water Bill subsidy for the rest of the Parliament, and thirdly that the government has instigated a permanent pothole fund!

Perhaps the highlight of the statement was the Office for Budget Responsibility’s (OBR) analysis that since 2010 no economy in the G7 has grown faster than that of Britain. Furthermore, the OBR forecasts that whole economy investment is set to grow faster in Britain than in any other major advanced economy in the next three years. On the downside, expectations for world growth and world trade have been revised downwards and although UK productivity is growing, we still lag behind most of our competitors.

Do the positive OBR indications mean that investors should be looking to the UK economy to support their long-term growth requirements? Standard investment advice remains to spread investments across a range of countries and sectors, with the investment mix based on current needs and future anticipated requirements. Investments should also be reviewed on a regular basis to ensure that they remain on track and take account of changing needs. If you are looking to review your investment portfolio, get in touch with us at Beckworth by using one of the links on our website.