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Labour’s manifesto is largely fiscally neutral with total net policy measures amounting to approximately £0.5bn GBP, and higher spending offset by increased taxation.
Starmer has pledged to build 1.5 million homes during his term and also support younger people in new housing developments with a government-backed mortgage guarantee scheme.
With Starmer’s likely cautious approach at the beginning of his tenure, policy rate expectations are unlikely to change significantly, although some net fiscal easing is likely.