Invest. Invest. Invest. Taxation. Taxation. Taxation. Is this the mantra and the reality of the Labour government’s first budget in almost fourteen years?

Financial economist Victor Hill explains whether the current economic climate and the new Chancellor’s measures will reanimate growth in the UK against the country’s debt to GDP ratio of over 100%.

Hill calculates that by the end of the decade, the U.K. will still be rumbling along with a growth rate of around 1.2 to 1.4% which he says is not disastrous. What may put a spanner in the works for UK exporters though is another Trump presidency which has a fondness for tariffs on non-US made products.

While Rachel Reeves’ budget is still being scrutinised, Hill says the market expects more details to come about the measures and headline statements. The Bank of England has capitulated on its interest rate predictions before and time will tell if Reeves, as a former Bank of England economist, will do the same.