Question to the HM Treasury:

To ask Her Majesty's Government whether they expect business investment to grow by 2.2 per cent in 2020 as forecast by the Office for Budget Responsibility in its Economic and Fiscal Outlook, published in March; and what forecast they have made of the impact of a no-deal Brexit on UK productivity and business investment growth in each of the next five years.

HM Treasury does not produce economic forecasts. The independent Office for Budget Responsibility (OBR) is responsible for producing forecasts for the UK economy and public finances, which include forecasts for productivity and business investment. In line with its remit, the OBR’s forecasts include the economic and fiscal impact of government policy on EU exit where the effects can be quantified with reasonable accuracy. The OBR has said that it will adjust its Brexit assumptions when more detail is available on the future trade and migration relationship between the UK and EU.