UK Economy and the challenges of Brexit
November 21, 2016

Chancellor Philip Hammond told the BBC’s Andrew Marr Show that UK’s debts are still too large and future plans must be responsible. He eluded to “sharp“ challenges ahead of Brexit and emphasised the importance of an efficient UK economy. The Chancellor also referred to his belief of the importance of assisting “just about managing” families or JAMs. One of the UK Government’s aims is to improve the balance of prosperity and opportunities across the country however economic forecasts are predicting a slowing of economic growth and coupled with planned benefit cuts next year, this presents a clear challenge for the Government to fulfil this objective. The shadow chancellor, John McDonnell, has raised concerns over the effects of the intended benefit cuts on JAMs and urged the Chancellor to reverse the plans. According to a BBC news article, Mr McDonnell told Mr Hammond: “This is money coming out of the pockets of those doing everything that is asked of them – trying to get work, in work, looking after their children, contributing to society”.

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