JPM | BEST OF BRITISH - Summer Holiday Fiscal Special - Plus UK Banks, Antofagasta, ITV & Victrex

Research evidence excerpt

JPM | BEST OF BRITISH - Summer Holiday Fiscal Special - Plus UK Banks, Antofagasta, ITV & Victrex

Ben Watson - UK Specialist Sales AC (44-20) 7134-1308 Europe Specialist Sales J P M O R G A Nben.watson@jpmorgan.com

J.P. Morgan Securities plc 09 July 2026

JPM | BEST OF BRITISH - Summer Holiday Fiscal Special - Plus UK

Banks, Antofagasta, ITV & Victrex

Ben Watson

+44 207 134 1308

ben.watson@jpmorgan.com

Happy holidays. I am now away for two weeks . Family Watson are escaping the sultry home counties for cooler sea air and brisk

walks in Cornwall. I hope you have a pleasant break if you are going away soon. Best of British will return on Sunday, 26th July

when I hope to be refreshed, gently irradiated and sporting a slightly lower golf handicap...

1) Lord O’Neill’s way forward? The IGP Prosperity 2030 Plan considered..

The P2030 Plan published today by the Institute for Global Prosperity has captured plenty of media attention. The plan was

endorsed by a range of senior economists - most notably Andy Burnham's adviser Lord Jim O’Neil . It proposes structural

reform of taxation and public service provision. This eloquent synopsis for the describes elements of current UK economic-

political paradigm.

“Today’s developed societies face a set of challenges that defy adequate response within the inherited policy structure.

Citizens are trapped in conditional welfare systems that fail to secure their livelihoods and deny their contributions.

Governments are gridlocked between weak infrastructure and overloaded fiscal inheritances. ..This leaves everyone feeling

powerless. Citizens demand change that governments cannot deliver, resulting in ever greater frustrations with democracy.”

The report goes onto propose a solution to three key issues facing the nation.