Wednesday, November 23, 2016

The Uk announced less growth, more inflation and more debt to resist the “brexit” – euronews

The United Kingdom waiver to consolidate their public accounts and reviewed its growth forecasts downwards for the "brexit".

Resist, this is the goal of the british finance minister, Philip Hammond, mapped in detail during his first Autumn speech to the Commons.

This year the growth will reach 2.1%, a tenth above the forecast, but the next year things will be very different.

"The Office of Budgetary Responsibility (OBR) revises downward the growth forecasts to 2017 to 1.4% for the low levels of investment, and fragile consumer demand that are determined by a great deal of uncertainty and an increase in inflation a result of the depreciation of the pound sterling", according to the british finance minister, Philip Hammond.

Hammond has implicitly recognized a evidence, that the "brexit" has its consequences. However there will be a fund of encouragement to the productivity of 23,000 million pounds (nearly 27,000 million euros).

"We have opted in this "Statement of Autumn" by giving priority to investments with high added value, especially in infrastructure and innovation that directly contribute to the increase of the productivity of the Uk", said Hammond.

The case is that the public debt will continue to climb up to the roof of the 90.2% of the Gross domestic Product (GDP), compared to 83.8 per cent of current.

Hammond is not going to fulfill the promise of his predecessor, George Osborne, is contrary to the "brexit", and there will be no surplus in the public accounts in the year 2019-2020.

The duties will be for the next legislature.

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