IN THE CHANCELLOR’S fifth budget the Office of Budget Responsibility has revised growth up by three times previous predictions.
George Osborne said that growth for 2014 would be 2.7%, in 2015 2.3%, 2.6% for 2016/17 and 2.5% for 2018.
The chancellor said this is a £16bn increase to the forecast from 4 months ago and the biggest revision of growth between budgets in the last 30 years.
The tax HMRC expects is underpaid by large companies through “transfer pricing” has risen by 60%
The chancellor has “missed an opportunity” to restore business confidence and encourage UK investment, said Mazars
Hammond “builds for Brexit” with a £27bn “shock absorber”, but the papers raise concerns about the higher borrowing
The last six years offer “no hope” for the future, said John McDonnell in response to chancellor Philip Hammond's Autumn Statement