Economic Situation

(asked on 16th April 2024) - View Source

Question to the HM Treasury:

To ask His Majesty's Government what steps they are taking to sustain the momentum of the economic recovery following indications that GDP increased in January and February.


This question was answered on 24th April 2024

To sustain economic growth momentum, the government is continuing to pursue an ambitious policy agenda to increase growth and productivity across the economy. The OBR expects that policies announced at the previous three fiscal events will increase the size of the economy by 0.7% by 2028-29.

In addition to making full expensing permanent, a tax cut to companies of over £10 billion a year, the government has announced measures to boost labour supply, which the OBR predicts will increase the number of hours worked by the equivalent of over 300,000 full-time workers by the end of the forecast period.

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