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Jeremy Hunt’s growth reforms will not transform UK prospects, warns watchdog

OBR says the economy faced serious economic headwinds even after chancellor’s Autumn Statement
The OBR agreed chancellor Jeremy Hunt’s package of tax cuts and welfare reforms would spur investment and employment — just not enough to offset UK economic headwinds

The Office for Budget Responsibility issued gloomy forecasts for the UK economy on Wednesday as Jeremy Hunt delivered an Autumn Statement that he said would boost growth for “a country that has turned the corner”.

The independent fiscal watchdog said it expected UK economic growth to be slower, unemployment higher, and inflation more persistent than it had predicted in March.

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