Tony Ward

Tony Ward is chief executive of Clayton Euro Risk

I think that the drawdown date of February 2018 will be extended. Why? Because we are not out of the woods yet and banks continue to need assistance.

Budget blues

With Brexit looming and the Chancellor’s position looking precarious, I can’t see that we are in for a barnstorming performance.

More interesting is what’s happening to house prices in the capital and why this remains a geographically discreet niche market.

What a mess

CBI President Paul Dreschler has declared that the ‘soap opera’ of Brexit negotiations is doing serious damage to Britain’s economy. Know what? I wholeheartedly agree. What a mess.

If the bank keeps base rates on hold, it will face criticism from all quarters. But let’s be grown-up here.

Frankfurt and the City

The mood music in EC1 is that time is running out for Britain and the EU to agree a transitional deal.

Next month, we will see the first increase in the cost of borrowing in over nine years, notwithstanding any horrendous sets of economic data emerging in the next few weeks.

Worryingly, the UK’s productivity continues to lag behind all major trading partners.

This drop in activity was undoubtedly prompted by buyers being deterred by the higher cost of moving, a concern that has led to virtual paralysis in some segments of the housing market.

So, there’s a chance we might avoid the notorious cliff edge, then.