Economic Situation

(asked on 18th July 2018) - View Source

Question to the HM Treasury:

To ask Her Majesty's Government what assessment they have made of the effects of Brexit on the UK economy to date.


Answered by
Lord Bates Portrait
Lord Bates
This question was answered on 31st July 2018

The UK economy is resilient. The economy has grown every year since 2010, and in 2017, growth remained solid at 1.7%. In their Spring Statement 2018 forecast, the Office for Budget Responsibility expected that the UK economy will continue to grow in 2018 and throughout the forecast period. The labour market continues to show strength with both the employment level and employment rate at record highs, and unemployment at the lowest rate in 40 years. The UK government wants to protect jobs and support growth through an economic partnership with the EU, and proposals for our future relationship with the EU are set out in the White Paper.

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