The UK has lowered its economic growth forecasts as a result of the vote to leave the European Union.
Britain's independent Office for Budget Responsibility now predicts 1.4% growth in 2017, down from an earlier forecast of 2.2%
And over a five year period it expects growth to be 2.4% lower than it would have been without the Brexit vote.
This has been revealed by UK finance minister Philip Hammond who's been unveiling his Autumn Statement - a mini-budget of tax and spending plans.
He's unveiled a series of measures such as extra funding for housebuilding, a boost to the minimum wage, and more spending on infrastructure.
And Mr Hammond insists the UK can meet the challenges ahead.
IN: "Mr Speaker…
OUT: …weaknesses."
DUR: 31 seconds
http://www.fsnradionews.com/feeds/1124autumn-hammond1.mp3
ALT:
And Mr Hammond says the growth predicted over the coming years is comparatively healthy.
IN: "Slower…
OUT: to some."
DUR: 21 seconds
http://www.fsnradionews.com/feeds/1124autumn-hammond2.mp3
Britain's independent Office for Budget Responsibility now predicts 1.4% growth in 2017, down from an earlier forecast of 2.2%
And over a five year period it expects growth to be 2.4% lower than it would have been without the Brexit vote.
This has been revealed by UK finance minister Philip Hammond who's been unveiling his Autumn Statement - a mini-budget of tax and spending plans.
He's unveiled a series of measures such as extra funding for housebuilding, a boost to the minimum wage, and more spending on infrastructure.
And Mr Hammond insists the UK can meet the challenges ahead.
IN: "Mr Speaker…
OUT: …weaknesses."
DUR: 31 seconds
http://www.fsnradionews.com/feeds/1124autumn-hammond1.mp3
ALT:
And Mr Hammond says the growth predicted over the coming years is comparatively healthy.
IN: "Slower…
OUT: to some."
DUR: 21 seconds
http://www.fsnradionews.com/feeds/1124autumn-hammond2.mp3