Bootle says Budget will not ease short-term pressure on UK

Deloitte's Roger Bootle believes the forthcoming Budget is unlikely to lessen near-term pressures on sterling asset markets but he is optimistic about longer term prospects.

The firm's economic adviser also believes this year's Budget will be almost unrecognisable from the traditional spending plans promised before a General Election. He says with the UK's budget deficit comparable with that of Greece, the markets and credit rating agencies would severely punish any sort of pre-election splurge by Alistair Darling. Such a move would also be unpopular with the electorate, who are well aware higher taxes and deep spending cuts already lie ahead, he adds. However, although Bootle believes the Budget will have little effect on sterling asset markets, he fo...