The circus that is UK parliament is over and Osborne’s Autumn speech was full of the usual grandstanding, the streets will be paved with gold type rhetoric.

Growth forecasts have been shaved from 2016 onwards and with only 2015 expected to beat previous forecasts. At the moment the latest economic data suggests that the slowdown we’ve seen the last few months might have stabilised but one month doesn’t make it a trend and we’ll need to see how the final month of the quarter plays out. Georgie upped this years growth estimate to 3.0%

Unemployment estimates have been royally slashed to 5.45 from 6.3% for 2015 and the government are looking for a steady 5.3% thereafter. Given the current strength in the labour market that’s probably about right if it continues.

There’s been a lot of tinkering around the edges, like scrapping air passenger duty for kids. That’s coming in in May, typically a few days after I get back from my jollies with the kids. Spending the LIBOR fines on emergency services, less payments to Europe, Stamp duty cuts (or shifting of bands) and other small change “good for the people” policies were given with an eye on the election. Surprise surprise though, borrowing costs are rising but we’ll be in a surplus come 2019/20 he says. Well, at least borrowing costs are lower at the moment, but that’s the only saving grace. It’s still ammo for the opposition.

Nothing earth shattering overall, politically to be expected, and I only watched it for the comedy value really. The pound likes what it heard though, and Osborne delivered it well enough, which should calm political traders that we see an upset in next years polls. There’s a long way to go and the shadow of UKIP looms large and the political trade is going to be prevalent from early next year. It will mean the market will have one eye on the polls and one on interest rates so enough to keep us on our toes next year.

George Osborne delivers much goodness to the UK...maybe

George Osborne delivers much goodness to the UK…maybe