Uncertainty ahead of the Autumn Budget hits business growth, while yields on British government bonds climb on report of debt rule change

Following in Lloyds Banking Group’s footsteps, Barclays’ CEO has thrown his weight behind Labour’s prospective plans for a tax raising, fiscal-rule shifting budget next week.

Speaking reporters following the release of the bank’s Q3 results (see earlier post), Barclays chief CS Venkatakrishan dodged questions about the potential impact of tax measures including a hike to employers’ national insurance contributions.

I see from the Labor government – and I’ve seen it from before they came into power – a very clear vision about what they want for the UK.

That vision is one of economic growth, and growth that is broad reaching, and growth that covers the important sectors of the economy, such as not just on the high tech side, climate, tech, pharma, but also in addressing the needs of individuals, most important of which is housing right, which takes a bigger part of the consumer budget in the UK than in many other countries in the world.