FTSE 100 Live: NatWest retail offer mulled; inflation to hit target in 2025
Proactive Investors
Published Nov 22, 2023 13:09
FTSE 100 Live: NatWest retail offer mulled; inflation to hit target in 2025
Proactive Investors -
- FTSE 100 down 13 points at 7,468
- Sage soars after buyback
- Kingfisher (LON:KGF) hit by weak trading
Shares in NatWest (LON:NWG) have dropped as the Chancellor said that the government will explore a retail share offering for NatWest.
Shares in the UK bank, in which the government still owns a 39% stake, are down 1.2%, with a clear downward spike oin the statement.
He has also outlined proposals to help with the cost of living - benefit payments will rise by 6.7% linked to September's inflation figure, all alchohol duties will be frozen until August 1, 2024, while the state pension will increase by 8.5%.
Hunt says debt has been due to rise to almost 100% of GDP but is now it is predicted to be 94% of GDP by the end of the forecast.
h2 Chancellor says the plan is working but the work is not done/h2The Chancellor Jeremy Hunt has kicked off his Autumn Statement.
He said he has taken "difficult decisions to put the economy back on track," adding the plan "is working but the work is not done."
He pledged to reduce debt, cut tax and reward work alongside 110 growth measures for business.
h2 Stocks ease ahead of Chancellor's speech/h2The Chancellor will make his statement shortly, we are just running through PMQs for now.
Proactive's Josh Lamb will have all the key details on a live blog here, while the main announcements will be covered here too, plus reaction.
Ahead of the statement, the FTSE is down 15 points and the pound is at $1.2544.
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