Autumn Statement 2016: OBR downgrades UK growth forecasts

In his first Autumn Statement since being appointed as Chancellor in July, Philip Hammond (pictured) revealed economic growth in 2016 is expected to reach 2.1%, higher than previous forecasts of 2%. However, he said the OBR's forecast for 2017 has dropped significantly, from 2.2% made at the time of the March Budget to 1.4%. It is also set to fall to  1.7% in 2018, down from 2.1%. However, it will return back to previous forecasts of 2.1% in 2019 and 2020, and 2% in 2021. "While the OBR is clear that it cannot predict the deal the UK will strike with the EU, its current view is that t...