British investors withdrew 3 billion pounds from the stock market in November, and there was an almost daily outflow of capital before British Chancellor of the Exchequer Reeves announced the budget. They did not start buying stocks again until the budget measures were not as strict as expected. According to data compiled by Calastone, the scale of divestment of British investors was the second-worst month on record, second only to the £3.6 billion divestment in October. Capital outflows were reversed on November 26 — the day Reeves announced the budget — indicating that some investors returned to the market after anticipated tax increases were not implemented. These data further prove that policy signals prior to the announcement of the budget have made the economic climate cautious. These signals have weakened consumer confidence, dragged down retail sales, and had an impact on the real estate market.

British investors withdrew 3 billion pounds from the stock market in November, and there was an almost daily outflow of capital before British Chancellor of the Exchequer Reeves announced the budget. They did not start buying stocks again until the budget measures were not as strict as expected. According to data compiled by Calastone, the scale of divestment of British investors was the second-worst month on record, second only to the £3.6 billion divestment in October. Capital outflows were reversed on November 26 — the day Reeves announced the budget — indicating that some investors returned to the market after anticipated tax increases were not implemented. These data further prove that policy signals prior to the announcement of the budget have made the economic climate cautious. These signals have weakened consumer confidence, dragged down retail sales, and had an impact on the real estate market.