The newly appointed UK finance minister Nadhim Zahawi stated on Wednesday that “we need to be really careful about public sector pay and fuelling inflation,” when requested about inflation and wage progress.

Key quotes

Asked about the company tax reduce, he stated, “I will look at everything to make sure we continue to be on the side of people.”

“Wrong to indulge in infighting.”

“We need to be fiscally responsible.”

“Nothing is off the table.”

“We have to work with BOE to make sure monetary policy is right.”

On vitality costs, “We have to make sure we have an energy strategy that allows us to invest in nuclear.”

“On fuel duty: “I will look at everything.”

“Tax cuts amongst most important things to do.”

Market response

GBP/USD stays below strain at round 1.1925, unfazed by the above feedback. The pair is dropping 0.26% on the day.


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