United Kingdom watchdog puts Brexit war chest at £26.6b

Hammond talks up UK economy despite Brexit 'cloud'

Britain has lowered its official forecast for economic growth in 2019, finance minister Philip Hammond said on Wednesday as he delivered a half-yearly budget update.

But he insisted the economy remained "remarkably robust".

In documents released alongside Chancellor Philip Hammond's Spring Statement, the Office for Budget Responsibility (OBR) said growth in the United Kingdom and global economies had slowed since October's Budget, leading to a downgrade in its short-term forecasts.

That raises the prospect that Brexit will be delayed, bringing relief to businesses but extending the uncertainty hanging over the economy.

Despite this year's downgrade Mr Hammond said: "Cumulative growth over the five years is now slightly higher than the Budget forecast".

Philip Hammond has promised to spend £26 billion on public services and investment if MPs vote to leave the European Union with a deal.

"I'm confident that we're going to do a deal", Hammond said on Brexit.

Delivering his spring statement after MPs emphatically rejected Theresa May's Brexit deal for a second time on Tuesday night, the chancellor said the issue was "damaging our standing and reputation in the world".

United striker Lukaku a doubt for FA Cup quarter-final
The confidence in the players is sky high. "And the mood is good, the training attitude is good, so hopefully we can keep that run going".

He warned: "Leaving with no deal would mean significant disruption in the short and medium-term and a smaller, less prosperous economy in the long-term, than if we leave with a deal".

Global growth is slowing, but United Kingdom wages are rising at their highest rate for a decade, amid record job creation.

Hammond revealed in his Spring Statement that the forecast for the country's growth in 2019 was 1.2 percent, the weakest since 2009, a sharp drop from the 1.6 percent predicted in the his budget last October.

He said that it was "disappointing" that the chancellor had missed the opportunity to provide desperately-needed funding for local services, and added that Brexit can not be a distraction from the challenges facing our public services.

Analysts expect parliament instead to favor delaying Britain's departure beyond the March 29 exit date, in a further vote due Thursday.

Responding to the Spring Statement, chairman of the LGA Lord Porter said: "The government's plan to publish the Spending Review alongside the Autumn Budget this year could exacerbate the funding challenges facing councils and will severely hamper their ability to plan ahead for next year and beyond".

He remarked: "By once again declining to set totals for the forthcoming spending review, [the chancellor] deferred making some of the biggest non-Brexit decisions of the parliament".

Related News:

  • Celebrate Pi Day With Math (Not Pie)

    Celebrate Pi Day With Math (Not Pie)

    With 7NOW, the convenience store chain's delivery service, get up to two whole pizzas for $3.14 each. To find your local pizza restaurant, you can visit their website and use the store locator tool.
    Kyler Murray skips measurement, throws at pro day

    Kyler Murray skips measurement, throws at pro day

    Didn't have any - at least to my face, nobody was negative. "I think the film kinda speaks for itself". Murray, a potential top pick in the 2018 NFL Draft, scaled in at 205 pounds Wednesday in Norman, Okla.
    Korea reconsiders denuclearization talks with US

    Korea reconsiders denuclearization talks with US

    The spokeswoman said the ministry had not confirmed why the North Korean officials decided not to attend. "That's Chairman Kim's word", Mr Pompeo said.
  • Lawyers: Decision not to free Viet accused is discrimination

    Lawyers: Decision not to free Viet accused is discrimination

    Officials there did not respond promptly to requests from BenarNews to confirm the information as relayed by her defense team. Varughese said Tommy Thomas may have his reasons for continuing the prosecution of Doan Thi Huong in Kim Jong-nam's murder.
    European clubs say will boycott FIFA's Club World Cup

    European clubs say will boycott FIFA's Club World Cup

    Infantino's push to expand the 2022 edition is being forced on hosts Qatar and will require significant changes to its plan. He added that VAR will be used in the tournament, "the same as we did for the men's World Cup".
    Spotify files complaint against Apple

    Spotify files complaint against Apple

    While Spotify is available for free via Apple , upgrading to its Premium tier service can now only be done via the internet. A Spotify EU complaint brought against Apple says that Apple stifles competition because of Apple's 30% App Store tax.
  • US  looks to test ground-launched cruise missile in August

    US looks to test ground-launched cruise missile in August

    In August, the Pentagon intends to test a cruise missile with a range of about 1,000 km, capable of flying at a low altitude. But he thought it was more likely that the Trump administration was simply planning for the treaty's demise.
    NASA boss says first person on Mars will 'absolutely' be female

    NASA boss says first person on Mars will 'absolutely' be female

    That's where the Space Launch System, or SLS, comes in. "The goal is to get back on track", Bridenstine told a Senate committee. To meet that deadline, the administrator said he has tasked the agency to look into how to accomplish the June 2020 deadline.
    Nadal Wins in Straight Sets to Reach Indian Wells Quarters

    Nadal Wins in Straight Sets to Reach Indian Wells Quarters

    Edmund , who won the Indian Wells second-tier Challenger event last week, struggled on serve in the opening set. Afterwards, in a clear indication of her confidence, Andreescu said: "For me, the sky's the limit".
  • Aussie politician claims Muslims are responsible for New Zealand shootings

    Aussie politician claims Muslims are responsible for New Zealand shootings

    In response, Anning turned around and struck the kid twice in the face, before the egger was tackled to the ground. On Sky News , political journalist Kieran Gilbert said someone with those views did not belong in parliament.
    Last remaining US diplomats leave Venezuela

    Last remaining US diplomats leave Venezuela

    Morales, who is on a visit to Greece, said meddling in the domestic affairs of another country never bodes well. Despite this, he said the US will continue to stand with self-proclaimed interim President Juan Guaido .
    President Trump issues his first veto over national emergency rejection, live stream

    President Trump issues his first veto over national emergency rejection, live stream

    Ahead of the voting, Trump framed the issue as with-him-or-against-him on border security, a powerful argument with many. The bill had passed the House in February with thirteen congressional Republicans crossing the aisle to join Democrats.


Most liked

Three thoughts after Warriors beat Rockets narrowly in Houston
You can't really have letdowns with this team because they'll make you pay, and that's what happened". It seems like they still have the ability to get to that level based on Wednesday night's win.

Thiem gets a walkover, into Indian Wells semi-finals against Raonic
Speaking to reporters after her win, Kerber said, "Venus is just such a great player and an fantastic champion". She broke Williams in the match's longest game that went to deuce five times when Williams' forehand went wide.

The Sopranos: Prequel Movie Gets Premiere Date and New Title
The late James Gandolfini as Tony Soprano in The Sopranos in 1999. (Robert Iler ) for a quiet dinner. " Sopranos " (and "Game of Thrones") alum Alan Taylor is directing the movie for New Line.

Jazz owner Miller: 'We're not a racist community'
The fan gave an interview with Complex Sports, in which he defended himself and said there was nothing racist about what he said. The fan would be banned , and plans to sue Westbrook in retaliation. "It's truly disrespectful to the game, man".

UEFA to investigate Neymar's VAR criticism after PSG defeat
UEFA have now revealed that Neymar is under investigtion for his comments. Neymar wrote in Portuguese on the social media website.

New Zealand shooting: suspect Brenton Tarrant in court charged with murder
Grieving members of the public following a shooting at the Al Noor mosque in Christchurch, New Zealand , March 15, 2019 . Two other people were in custody but had not been charged and the third did not appear to be connected to the shootings.

Taylor Swift debuts pink hair at iHeartRadio Music Awards
The dark and stormy Reputation album seemed to be reflected through her past Insta feed, which was also dark and twisty. And then, of course, her shots from the iHeartRadio awards were all butterflies, hearts and sunshine.

Oakland Raiders release AJ McCarron
Nelson is certainly a deep threat, as his 17.8 yards per catch average is the best mark in all of football. McCarron served as Derek Carr's backup last season, playing in two games and throwing three passes.

J&J found liable for California woman's talc-linked cancer
Amid the scrutiny, Reuters late a year ago published a report alleging that J&J knew about asbestos in its talc for decades. That hasn't stopped people around the country from filing lawsuits against Johnson & Johnson.

Obama DOJ blocked Federal Bureau of Investigation from scrutinizing Clinton Foundation
President Trump called out Justice Department over its possible mishandling of the email investigation in a tweet Wednesday. The over 500-page report goes on to state: "We did not identify evidence of bias or improper considerations".

New Zealand mosques' attack suspect praised Trump in manifesto
A total of 41 people were killed at a mosque on Deans Avenue, Ardern said, and seven were killed at a mosque on Lynwood Avenue. The police commissioner would not confirm the shooter's name is Brenton Tarrant during the press conference .

James Gunn Is Back To Directing 'Guardians Of The Galaxy 3'
For those that may not recall, Gunn was sacked from Marvel last summer when some old tweets he had made resurfaced. But I suspect James Gunn wrapping up the trilogy he started the way he wanted will be worth the wait.

Players Championship leaderboard 2019
His 74 included a triple-bogey at his 10th hole, the par-four first, where he took five shots to hole out from a greenside bunker. He led by one stroke from South Korean An Byeong-hun and American Brian Harman, and by two from Northern Irishman Rory McIlroy .

Zinedine Zidane sends a message to Gareth Bale ahead of the summer
Bale was left out of the starting line-up for that match before coming on and scoring twice, including a spectacular overhead kick.

Louis Tomlinson’s Sister Dead At 18 Of Suspected Heart Attack
The model and social media influencer reportedly collapsed on Wednesday after a suspected heart attack at her London apartment. Her death is now being treated as "unexplained" at this stage, but it's suspected the cause of death was cardiac arrest.