FTSE 100 rises ahead of Autumn Statement
The FTSE 100 has started the day's trading off on the right foot this morning (December 5th) ahead of George Osborne's much-anticipated Autumn Statement, which he is due to deliver this afternoon.
It is widely expected that the tone of the address will be stoical, after the chancellor stated there would be "no miracle cure" for solving the UK economy's economic problems.
Treasury sources claim the Statement will divulge how £1 billion will help build new schools and academies, while government sources say front-line services will be protected from the squeeze.
Alongside Mr Osborne's speech, the Office for Budget Responsibility is anticipated to downgrade its growth projections, reflecting the fact the government announced last week that it would take the nation longer than first thought to meet its deficit reduction targets.
Labour has branded the Conservative-Liberal Democrat coalition's economic policy "a terrible failure".
At 09:50 GMT, the FTSE 100 rose by 0.4 per cent to an index value of 5897.7 points.
Find the latest spread betting strategies for the FTSE 100 at City Index.
From time to time, City Index Limited’s (“we”, “our”) website may contain links to other sites and/or resources provided by third parties. These links and/or resources are provided for your information only and we have no control over the contents of those materials, and in no way endorse their content. Any analysis, opinion, commentary or research-based material on our website is for information and educational purposes only and is not, in any circumstances, intended to be an offer, recommendation or solicitation to buy or sell. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. No representation or warranty is made, express or implied, that the materials on our website are complete or accurate. We are not under any obligation to update any such material.
As such, we (and/or our associated companies) will not be responsible or liable for any loss or damage incurred by you or any third party arising out of, or in connection with, any use of the information on our website (other than with regards to any duty or liability that we are unable to limit or exclude by law or under the applicable regulatory system) and any such liability is hereby expressly disclaimed.