UK investors face fresh uncertainty as Burnham leaves wealth tax question open
Markets could begin pricing in the risk of higher taxes as Prime Minister Andy Burnham approaches his first Budget without several economists previously linked to his team
UK Prime Minister Andy Burnham is approaching his first Budget, and economists previously linked to his team are no longer involved. This development may lead markets to price in the risk of higher taxes.
The Prime Minister has promised to rebalance the economy with growth in every postcode. A recent project announced by National Highways, the Lower Thames Crossing, is a 14.5-mile road venture on the edge of Greater London, priced at £10bn-£11bn. The project involves building a tunnel under the Thames, which will be 2.6 miles long and have three lanes in each direction.
The government has committed £3.1bn to fund the tunnel, with the rest expected to come from the private sector. However, objectors and local councils have raised concerns that the project will only provide short-term congestion relief and will destroy ancient woodland and habitats, according to the Guardian Business.
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