Investors pulled £666m from UK equity funds in September, while the UK-focused equity income sector lost £416m, according to the latest Calastone Fund Flows index.
As the Labour government wrestles with the £22bn fiscal “black hole”, warnings of just how “painful” the Autumn Budget on 30 October is likely to be have really dampened the mood.
Prime Minister Keir Starmer said in late August that people will have to “accept short-term pain for long-term good”, and that those with the “broadest shoulders should bear the heavier burden”.
Rachel Reeves pledges to avoid Tory government ‘m…