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cover of episode How to Fix the UK Stock Market Quickly and Cheaply

How to Fix the UK Stock Market Quickly and Cheaply

2025/6/11
logo of podcast Merryn Talks Money

Merryn Talks Money
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J
John Stepek
M
Merryn Somerset Webb
Topics
John Stepek: 我认为这次财政审查听起来很像一次真正的财政事件，尽管它本不该是。财政审查中充斥着预算介绍中常见的空话，缺乏实质内容，市场对此反应冷淡，因此我们无需过于关注，但税收可能会在预算中增加。我感觉这次的财政报告更多的是在重复一些老生常谈，就像预算案的引言部分，泛泛而谈，缺乏实际内容。市场对此反应平淡，所以我认为我们不必过于在意，除非考虑到预算中可能会增加税收。 Merryn Somerset Webb: 我认为公共支出的大幅增加，从2024年到2029年将达到GDP的45%，这非常严重。超过40%的支出表明情况有些失控，英国似乎无法将税收提高到超过GDP的35%-37%，这意味着税收和债务都会增加。我们现在面临着债务迅速增长、偿债成本高昂和经济停滞的严峻局面，国防投入也不足。我看到的是持续的大规模支出、可能增加的税收、社会契约的进一步破裂、难以支付的债务偿还成本以及国防投入的不足。

Deep Dive

Chapters
This chapter discusses the UK's economic challenges, including high public spending, rising taxes, and increasing debt. The speakers question whether the government is prioritizing necessary solutions.
  • Public spending is projected to reach 45% of GDP.
  • The UK historically struggles to raise more than 37% of GDP in tax revenue.
  • Rising debt servicing costs and lack of economic growth are major concerns.

Shownotes Transcript

In this week's roundup, Bloomberg UK Wealth Editor at Large Merryn Somerset Webb speaks with Money Distilled newsletter author John Stepek about the market indifference to Chancellor Rachel Reeves' spending review. They also share strategies for how the government can support the UK equity market: scrap stamp duty, reform ISAs, and nudge pension funds to invest at home. 

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