Julian Welcomes Chancellor’s Announcement of Higher Economic Growth
March 13, 2018
Julian has welcomed today’s Spring Statement and echoed the Chancellor’s declaration that it is time to “stop talking Britain down”.
After reverting to an Autumn Budget, the Government has made clear that there will only be one fiscal event each year and this will provide longer preparation for upcoming tax changes in the new financial year.
During the statement, the Chancellor of the Exchequer noted that the British economy had grown in every year since 2010 and stated that the independent forecaster the Office for Budget Responsibility has increased their estimate for growth in 2017 from 1.5 to 1.7 per cent, and forecast stronger growth of 1.5 per cent for 2018.
The Chancellor went on to remark that in 2018/19, Britain will run a small current surplus that represents tax receipts covering day-to-day spending.
Speaking afterwards, Julian said: “I am particularly pleased to see the announcements that inflation is expected to fall back to target levels over the next 12 months and employment is forecast to carry on growing.
When I was elected in 2010, we heard a lot about how our economic plans would cause a recession and unemployment. The exact opposite has happened, with continuous growth and very significant job creation. It is time to stop talking Britain down. To move forward and foster these economic achievements we need strong business confidence and further commitment to balancing public finances; ensuring rising wages and the generation of greater funds for our public services.”