Economic Growth Forecasts 2024 and 2025 2024-02-06
2024-02-06
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The UK economy is facing slower growth than previously anticipated, with the International Monetary Fund predicting second-worst G7 growth for next year. The SNP has increased taxes in Scotland.
What recent assessment has been made of the implications for government policies given the economic growth forecasts for 2024 and 2025? Will the Chancellor reassure businesses and households about future economic growth?
The government has announced 110 growth measures in the autumn statement, which together with spring Budget measures will have the biggest impact on output ever measured by the Office for Budget Responsibility, increasing GDP by 0.5% by 2028-29.
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Assessment & feedback
The Chancellor did not provide reassurance about upcoming economic growth or address specific concerns raised.
May I Gently Correct The Hon. Lady On The Imf? It Said That Over The Next Four Years, Uk Growth Will Be Higher Than In Germany, France, Italy And Japan.
Response accuracy
Q2
Partial Answer
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Context
The UK economy is predicted to have the second-worst growth in the G7 next year, with Scotland facing higher taxes from the SNP.
Given slower economic growth forecasts, will the Chancellor outline specific measures to give confidence to people across the country about future economic growth?
The hon. Lady's information on IMF predictions is incorrect; over four years, UK growth will exceed that of Germany, France, Italy, and Japan. The Chancellor criticises SNP tax rises but also mentions Liberal Democrats' proposed tax increases.
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Assessment & feedback
The question about specific measures to reassure people was not addressed; instead, the Chancellor discussed IMF predictions incorrectly and criticised other parties' policies.
May I Gently Correct The Hon. Lady On The Imf?
I Agree About Snp Tax Rises, But I Point Out That The Liberal Democrats Have Some Tax Rises Of Their Own.
Response accuracy
Q3
Partial Answer
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Context
The New Conservatives propose a budget plan aimed at helping small, family-run businesses.
Has the Chancellor had the opportunity to review the New Conservatives' budget proposal that focuses on growth and includes measures like increasing the VAT registration threshold and abolishing IR35 reforms?
The Chancellor discusses with colleagues, including the hon. Friend who proposed increasing the VAT threshold. They look seriously at measures that support small businesses.
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Assessment & feedback
Did not provide specific steps or commitments to implement suggested reforms.
We Will Look Seriously And Carefully At Any Measures That Help Small Businesses.
Response accuracy