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U.K. Finance Minister Philip Hammond is set to deliver his Autumn Budget announcement Wednesday, laying out the country’s latest economic map as it tackles Brexit negotiations.
Investors will be watching the announcement for news on the future of the Conservative Party’s austerity-driven economic policies, with Hammond himself having pledged to achieve a budget deficit of less than 2 percent by 2020.
The U.K. housing crisis is also expected to be addressed, building on Hammond’s recent comments that Theresa May’s government will build 300,000 new homes per year, approximately 100,000 above the current rate.
The future of U.K. borrowing is on the line, dependent on whether or not the economy grows at a slower rate than the Bank of England‘s forecasts. Hammond is expected to detail how the U.K. will spearhead a technology revolution, funneling cash into artificial intelligence development, driverless car infrastructure and electric charging points.
