How financial market turmoil is impacting the UK economy

In this webcast, our speakers preview the latest EY ITEM Club Autumn Forecast, exploring recent developments and the implications for the UK’s economic recovery amidst financial market turmoil.

The UK is facing the most challenging economic circumstances since the 1970s, with ongoing disruption from the Chancellor’s September ‘mini-Budget’ triggering a degree of financial market turmoil not seen since the global financial crisis and the Bank of England compelled to intervene.

Febrile financial markets, the slump in the pound and the prospect of interest rates rising faster than expected have added to the already considerable challenges facing the economy from high energy prices and inflation. At the latest Conservative Party conference, growth was again highlighted as the ultimate goal, despite recent disruption.

Our speakers Peter Arnold, EY UK Chief Economist, Martin Beck, Chief Economic Advisor to EY ITEM Club and Chris Sanger, EY Global Government and Risk Tax Leader and EY EMEIA and UK&I (Tax Centre) Tax Policy Leader, review the forecast and explore recent developments and the outlook for the economy.

Topics discussed include:

• The UK economy’s recent performance and prospects over the next few years.
• The potential consequences of the UK Government’s programme of tax cuts and supply-side reforms – will they increase growth or prove lacking?
• The extent to which the significant package of support announced by the UK Government to cap energy bills might mitigate some of the economy’s challenges.

More information on the full forecast is available here.