Hard for Reeves to Boost Headroom to £20 Bln: Santander

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Santander's economist believes UK Chancellor Rachel Reeves will struggle to boost the fiscal buffer to £20 billion, making it challenging to please bond markets.

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Market impact analysis based on bearish sentiment with 64% confidence.

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Bearish
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64%

Article Context

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Santander CIB Economist Victoria Clarke discusses the outlook for today’s budget, saying UK Chancellor of the Exchequer Rachel Reeves is going to find it tough to please bond markets by boosting the fiscal buffer sufficiently. “I’ve had, you know, every spreadsheet under the sun going, trying to work out different permutations of this,” Clarke tells Bloomberg Television. “And it’s actually very difficult even to get your headroom to £20 billion.”

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Original article published by Bloomberg on November 26, 2025.
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