Wyn Thomas - Axys Investment Management

Weekly Market Update 19th October 2015

FISCAL CHARTER APPROVED BY VOTE

This week there was a lot of fuss about on the government’s fiscal charter, which passed its commons vote this week. The bill itself is basically meaningless; while notionally it commits the country to balance the books every year, in reality the chancellor is not going to have himself arrested, and any future chancellor will find a way around it. As a political move it has been extremely successful, however. It was designed to force Labour to either hamstring themselves by accepting it, or look fiscally irresponsible by rejecting it; in the event shadow chancellor John McDonnell did both, badly Read More…..