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UK's Jeremy Hunt Announces Alcohol Tax Freeze Until August 2024
Posted
November 23, 2023
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1:00Now PlayingUK Chancellor Jeremy Hunt freezes all alcohol duty until August 2024, saying "going to the pub has become more expensive" for many.
The UK kept its bond issuance plans little changed for the current fiscal year, surprising a market that was bracing for a larger cut and weighing on gilts.
The Debt Management Office said Wednesday it will issue £237.3 billion ($296 billion) of government bonds in the fiscal year 2023 to 2024, broadly in line with the £237.8 billion plan announced in April. That compares to the £224 billion estimated by banks in a Bloomberg survey last week.
The UK also slashed the amount of bills it plans to issue by £10 billion, catching out traders who expected a reduction in long-dated bonds. Ten-year gilts erased an earlier advance, also pressured by tax cuts announced by the government, which risks fueling concern about inflation.
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