Three key heads reflect on Rachel Reeves’s statement.
On today’s call you can hear:
- Chief Investment Officer: Gary Reynolds
- Head of Private Clients: Kapil Divecha
- Head of Corporate Clients: Sagar Dholiwar
Conducted by Head of Marketing, Leo Hallam.
In this fly-on-the wall call, the team react to the Spring Forecast 2026, questioning its credibility and highlighting concerns around unrealistic productivity assumptions, weak growth prospects, rising unemployment, and the lack of measures to stimulate investment.
They also consider the political tone of the Chancellor’s statement, the muted response from the Shadow Chancellor, and the implications for inflation forecasts.
With the conversation shifting to the Iran conflict, Gary’s reassurance that its impact on oil markets is unlikely to mirror the shock of 2022 led to Leo questioning fresh news reports of a 98% increase in gas prices, which all became potentially confusing for anyone to listen to as we all scoured the web for more information – so we cut that bit out.
The OBR on rising energy prices
The Office for Budget Responsibility (OBR) has since released its own commentary in this press briefing (starts at 14 minutes 13 seconds) which reflects our conversation with more clarity:
The team closes the call highlighting how these developments influence our conversations with clients, portfolio risk levels, and cashflow modelling, and how we value the importance of timely communication during periods of uncertainty to ensure clients can remain reassured and informed about their investments.
If you have queries please speak to your adviser or contact us.
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