The Spring Statement Illusion: Why UK Growth – and Your Portfolio – Are Still Under Attack

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The spring statement looked quiet on the surface - but for property investors and business owners, the undercurrents and general direction the economy is headed in is anything but calm. They are still dealing with higher taxes, rising national insurance, a minimum wage hike, and some parties’ hostile stance toward landlords. Inflation, rising unemployment, and overheads all increase the chances of future tax grabs being needed.

Mark also unpacks the impact of Middle East turmoil on energy prices, interest rates, and the government’s looming need for “more money” in the autumn and what would happen if The Greens got into power.

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KEY TAKEAWAYS

At first glance it appears that the spring statement did not have a lot in it - very few changes were announced. But the damage is already done, the tax, NI and inheritance tax changes already put in place are really biting.

For entrepreneurs, the UK has become a hostile place and nothing in the Spring statement improves that situation.

The Middle East conflict is likely to push inflation and interest rates higher.

Rising support for the Green Party has the potential to directly impact landlords and property investors. For example, at their last conference they voted to end Buy-To-Let Mortgages and several other changes that would make things much harder for property entrepreneurs.

BEST MOMENTS

"Some of their voters might like it, but it's not actually helping."

“Generally, make entrepreneurs feel like an unwanted species, a la 1940 … this is why the country is not growing.”