Markets Need Clear U.K. Fiscal Policy, Deficit Position: RBS's Davies

The transcript discusses the need for a clear fiscal policy in the UK, especially in light of Brexit and the slowing economy. It highlights the importance of having a fiscal framework to guide government spending and borrowing, as markets are wary of open-ended fiscal expansion without clear priorities. The role of the Chancellor in establishing this framework is emphasized, along with the potential consequences for the economy and currency if such a framework is not implemented.

What is the significance of having a clear fiscal policy according to the speaker?

What concerns does the speaker express regarding market reactions to fiscal policies?

How does the speaker perceive the current government's fiscal framework?

In what way does Brexit impact the government's fiscal decisions according to the speaker?

What potential danger does the speaker identify if no fiscal framework is established?