MNI UK Budget Preview: Round 2, Will There Be A Knockout?

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• It can be stated without hyperbole that the UK Budget could be the biggest domestic event of the year, and indeed could have repercussions for many years to come. There is still a great deal of uncertainty over the measures that will be announced.
• In this document we answer the main questions of why the Budget is so important for financial markets and political risk, outline potential measures and also set out expectations for the gilt remit revision.
• We also compile an early look at sellside expectations who look for the gilt remit to increase around GBP8bln with an additional GBP2bln of UKTB sales.
• Additionally, we look at how at next year's Budget there will be a little more wiggle room, which may impact Reeves' headroom choice for this year.