Tomorrow’s UK Budget looks set to be as focused on extending COVID-19 supports such as the furlough scheme and stamp duty holiday as signalling tax rises will be required to eventually bring down the deficit. The decision to raise corporation taxes and freeze income tax thresholds will garner attention. However, the Office for Budget Responsibility (OBR) will still likely forecast a deficit of 7-8% of GDP in 2021/22, with net debt rising close to 110%.
Davy research
Davy ResearchBank of Ireland - Positive catalyst: material scale benefits from KBC Ireland exit
Davy ResearchGrafton Group - Announces strategic review of traditional merchanting operations in Great Britain
Davy ResearchHeidelbergCement AG - Q1 out-turn comfortably ahead of estimates
Davy ResearchMarket comment - Irish residential property price inflation accelerates to 3%
Davy ResearchWizz Air Holdings - Tough Q4 means weaker-than-expected full-year out-turn
Davy ResearchTravis Perkins plc - Big increase in underlying revenues in Q1
Davy ResearchMarket comment - Stability Programme Update puts off difficult questions