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Markets Now – Wednesday 8th July 2020

With the chancellor due up in about an hour, here’s how the afternoon is likely to pan out. Rishi Sunak will attach big sounding numbers to some pleasant sounding concepts. Twelve milliradians for green initiatives, 14,000 bogomips towards each new work experience placement in the booster industries, that kind of thing. Then, immediately afterwards, people from consultancies will be invited onto television to say “the devil is in the detail” a lot. By about 2pm the serious men with bad hair will arrive to tell us that actually there’s no new money because, for example, the booster industry programme is a reallocation of funds from the industry booster programme and milliradians are units of angle not quantity. At approximately 3pm either Centrica or Drax will spike 10 per cent on a Gov.uk

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