Government forecaster downgrades growth prospects and warns inflation will stay above target until 2025Hunt announces sweeping tax cuts for firms and workersUK politics live – latest updatesAutumn statement 2023: key points at a glanceThe government’s official forecaster has slashed its predictions for economic growth over the next two years, and warned that inflation could take until 2025 to come back to the official 2% target.In an updated financial health check to accompany the autumn statement, the Office for Budget Responsibility (OBR) said a more resilient economy this year had handed the chancellor a £27bn budget windfall, but it warned of a more difficult outlook up to 2028 than previously forecast at the time of the budget in March. Continue reading…
Source link : https://www.theguardian.com/business/2023/nov/22/obr-warns-uk-government-finances-face-major-headwinds-up-until-2028
Author : Phillip Inman
Publish date : 2023-11-22 15:34:50
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