LONDON, July 4, 2024 /PRNewswire/ -- As the UK heads
to the polls today, financial markets are holding steady as
forecasts predict a new Labour government. The long-anticipated
shift seems imminent, with Labour maintaining a consistent 20-point
lead in key polls since October
2022.
Payments firm, Caxton, analyst David Stritch says that
Labour's proposed economic policies are fiscally orthodox and align
closely with those of the Conservatives. "The fundamental UK
outlook is left largely unchanged," Strict explains. "We do not
anticipate a Brexit-style depreciation in Sterling and could even
see a modest appreciation as the uncertainty is removed."
Despite the market's current stability, Caxton remains vigilant.
The firm's FX desk will operate through the night, ready to assist
clients in capitalising on potential Sterling gains or mitigating
any losses from minor fluctuations.
For non-domiciled individuals, the upcoming changes in tax
rules, effective from April 2025,
signify a notable shift in the UK's tax landscape.
Alana Parsons, Caxton's Chief
Operating Officer, said, "While these changes introduce new
challenges, they also present opportunities for strategic planning.
Jurisdictions like Gibraltar offer
appealing alternatives for those looking to optimise their tax
position while maintaining a high quality of life. We are working
closely with our clients to navigate these changes
effectively."
As the UK stands on the brink of potential political change, the
fintech sector continues to adapt, demonstrating resilience and
strategic foresight in the face of evolving economic policies.
About Caxton
Caxton is an award winning fintech payments company which processes
tens of millions of international and domestic transactions each
year. Website: https://www.caxton.io/cards
Media contact:
Lauren Smith
Email: lauren.smith@caxton.io
Tel: 0333 123 1815
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SOURCE Caxton