Autumn Statement paints painful backdrop to UK finances

Nov 30, 2016 | News

The post-Brexit referendum Autumn Statement was never going to be pretty. But even forecasters hadn’t anticipated the scale of Governments borrowing projections in Philip Hammond’s first Autumn Statement. At £100bn it’s the equivalent of the entire NHS budget and over half of this figure is the anticipated costs of Brexit. Whilst no-one is projecting a recession, with growth forecasts of +1.7% in 2018 raising to +2% by 2021, it’s clear that challenging times are ahead. We review the key points arising and how they may affect you and your business.