FTSE falls to it's lowest level in almost three months amid the Autumn Budget

On Thursday morning the FTSE fell to its lowest level in three months as the Chancellor's Budget has made trader nervous. Financial markets are nervous over Labour's measures announced in the Budget which has sent shockwaves across financial markets.

Paul Johnson, director of the IFS warned that taxes might need to be raised again in a few years' time if the Budget fails to increase growth. Johnson said, 'The first gamble is that a big cash injection for public services over the next two years will be enough to turn performance around, and that many of the temporary spending pressures won't persist.'

Rachel Reeves told the BBC on Thursday morning, 'This is not the sort of Budget we would want to repeat. If she's wrong about that, and spending pressures don't dissipate after two years...she may well need to come back with another round of tax rises.'

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