It would be useful to have a thread aggregating Stocko members' thoughts on Rishi's  Spring dishes.  2 issues come to my mind ahead of his speech today:

1. The Hill Report. Whilst not strictly part of the Budget, this imminent report is closely tied to it. Is loosening the rules for UK listings, in order to attract the likes of SPACs, necessarily in the interests of PIs like us? Particularly when the FCA and the UK judicial system seems glacial in prosecuting and preventing market abuse (eg Pat Val).

2. The impact of a rise in Corporation Tax. The political appeal is obvious - those companies most badly affected by Covid will be making losses, and hence not subject to any rise in CT for some time. Clearly this will dent EPS progression; but will share prices absorb the impact on EPS with a rise in ratings? We should also be on our guard for managements rushing to alter LTIP and other remuneration schemes that are based on EPS perforamance, so that they don't suffer from Sunak's move. In my view this would be reprehensible. And we should be prepared to make representations against it.

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