Chancellor relies on defence as OBR cuts this year’s growth forecast
Chancellor Rachel Reeves is backing the UK to become a “defence industrial superpower” as she balances the need to drive economic growth in a changing world.
The importance of defence was weaved through her Spring Statement, which gave no ground but rarely sought to expand on previous positions.
However the Office for Budget Responsibility (OBR) has cut its forecast from 2% to 1% for the UK economy this year, before upgrades in the rate of growth in the following years.
“The fiscal rules are non-negotiable”, said ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
