Philip Hammond

Hammond’s Brexit ‘dividend’ claim rejected as UK economy stalls | Politics – Business Article

Philip Hammond’s claim that Britain can reap an economic dividend from Theresa May’s Brexit deal has been flatly rejected by MPs, as official figures confirmed the UK has suffered its worst year for GDP growth since 2012. In a highly critical report, the Treasury select committee warned that the chancellor’s claims of a “deal dividend” if Britain avoided a no-deal exit lacked credibility. The criticism came after data on Monday showed the economy grew by just 0.2% in the final…

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Hammond £5bn short of ‘austerity is ending’ target, says thinktank | Business – Business Article

Philip Hammond must find an extra £5bn in this year’s Whitehall spending review to reverse planned cuts and meet his claim of ending austerity, a leading thinktank has revealed. The Institute for Fiscal Studies told the chancellor that funds pledged in last year’s budget to boost NHS spending, defence and international aid failed to safeguard local councils and some of the worst-hit government departments from further shortfalls. The thinktank said a minimum of £2.2bn would be needed to freeze all…

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Philip Hammond urges business leaders to accept Brexit result | Business – Business Article

Philip Hammond has told business leaders they need to accept the result of Britain’s EU referendum and warned that a failure to implement it would damage the country’s political stability. The chancellor told increasingly restless business leaders that he was working for a deal that safeguarded the economy, and said he understood their frustration but companies had to accept that changes were coming – such as an end to the free movement of people and business models built on a…

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