

December Monthly Note
Global Review New chancellor Jeremy Hunt has announced his new budget, packed full of heavy spending cuts and tax rises. None of this came as a surprise given the rhetoric from the chancellor and prime minister Rishi Sunak, however the measures will be sure to hit households and the economy at a time when the UK is already facing a steep and prolonged recession. Inflation is proving stubborn in the UK, with the last CPI print showing prices had risen by 11.1% in the year to O