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The Chancellor asserted in the Spring Statement that the OBR’s borrowing forecasts for GDP and borrowing will show the Labour Government’s choices "are starting to pay off".
However, Ms Reeves signalled she will announce "three major choices that will determine the course of our economy in the future.
She cited that these choices will involve strengthening global relationships, AI, and easing trade barriers between the UK and other countries.
Based on the OBR’s latest report, GDP growth will fall to 1.1 per cent in 2026, down from the fiscal watchdog’s 1.4 per cent projection last November.
Furthermore, GDP growth will jump to 1.6 per cent in 2027, up from last year’s forecasts, and remain at this level the following year.
#UKEconomy #RachelReeves #UKNews #UKPolitics #UKNews
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