Newspaper article The Journal (Newcastle, England)

Optimistic Outlook to UK Economy

Newspaper article The Journal (Newcastle, England)

Optimistic Outlook to UK Economy

Article excerpt

PHILIP Hammond has expressed cautious optimism over a productivity boost for the UK after telling MPs there are signs of improvement.

The Chancellor welcomed recent figures showing two consecutive quarters of productivity growth although added, it is hoped record employment levels should help to "drive the productivity performance" of the UK economy.

But Mr Hammond did not get carried away in the Commons, noting "one swallow does not make a summer" - although he initially misspoke by saying "spring". Mr Hammond said: "We should be very cautious about interpreting those figures but we should expect, as we see record levels of employment in the economy, record high employment figures, we should expect that to help drive the productivity performance of the UK economy." Shadow Treasury minister Jonathan Reynolds earlier pointed to "already dire" economic forecasts which he argued did not factor in a no deal Brexit that would "severely impact" on jobs, growth and tax revenues. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.