UK: March Budget Update to be a low-key fiscal event - TDS

Analysts at TD Securities point out that the UK government reveals its March Budget Update, and the event is promised to be a low-key fiscal event, with its primary purpose being an update to the OBR's economic projections.

Key Quotes

“There will be little in the way of new spending, though Brexit is likely to enter the picture, with future spending commitments a function of the Brexit outcome.”

“Chancellor Philip Hammond is scheduled to release the update around 12:30-1pm GMT. Later, MPs will vote on whether to pursue No Deal Brexit.”

“We expect MPs to reject no deal, setting up for a Thursday vote to extend Article 50.”