Autumn Statement 2016: at a glance
IN the first major economic statement since the Brexit vote Chancellor Philip Hammond underlined a need to prepare the economy to be “match-fit” for the transition that will follow the EU vote.
The state of the economy
Office for Budget Responsibility growth forecast upgraded to 2.1% from 2.0% in 2016, then downgraded to 1.4% from 2.2% in 2017 due to a fall in the value of sterling.
OBR forecasts growth of 1.7% in 2018, 2.1% in 2019 and 2020 and 2% in 2021
Government no longer seeking a budget surplus in 2019-20
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