“Rishi Sunak Has Delivered A Trifecta Of Crowd-Pleasing Measures In The Summer Statement.”

Ranko Berich (Monex Europe) | Rishi Sunak has delivered a trifecta of crowd-pleasing measures in the summer statement but has nonetheless dialled the pace of stimulus down from its previous “warp speed” setting. The OBR’s judgement is due next week, but by the Government’s reckoning today’s measures add up to another £30bn of spending – significant by any stretch, but not on the scale of the £84bn job retention scheme. Although at this point the additional fiscal stimulus is welcome, the effectiveness of both the VAT cut and the discount voucher will depend on the vagaries of human behaviour.