Budget business backlash, interest rate cut fallout and ETFs inflows and Bitcoin both breaking records

AJ Bell Money & Markets

On this week’s episode, Charlene Young and Laith Khalaf talk you through the impact on business of rising National Insurance and minimum wage bills. Plus, labour market data for the period to September showed us the gloomy reality for businesses before the Budget as stalling investment and hiring plans fuelled rising redundancies and unemployment.

The Bank of England voted 8-1 to cut interest rates last week but forecasts published alongside the announcement give us an insight into just how inflationary the bank thinks Rachel Reeves’ Budget will prove, and the likelihood of her achieving her pledge of ‘growth, growth, growth’.

Bitcoin gets a double mention – not only has it been breaking records but a UK pension scheme has announced it will be allocated 3% of its assets to diversify its investment base, in a break with tradition in the pension space. [11:42]

Dan Coatsworth interviews Jack Caffrey from the JP Morgan American Investment Trust for his take on the US election and why the market reacted like it did to that Donald Trump victory. [25:21]

It’s also looking like a record year for flows into Exchange Traded Funds. What are ETFs are what has made them so popular? [39:14]

We also discuss why first-time buyers might find the frozen Lifetime ISA property limit locks them out of their dream family home [44:00], and outflows from Fundsmith Equity [50:01].