(Reuters) – British finance minister Rachel Reeves will publish a forecast from the Office for Budget Responsibility on Wednesday, which is expected to roughly halve Britain’s expected growth in 2025 from 2% to about 1%, the Financial Times reported on Tuesday. Reeves’ will also reveal in her spring statement that her 9.9 billion pound ($12.79 […]
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Reeves to say Britain’s growth will halve in 2025, FT reports
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(Reuters) – British finance minister Rachel Reeves will publish a forecast from the Office for Budget Responsibility on Wednesday, which is expected to roughly halve Britain’s expected growth in 2025 from 2% to about 1%, the Financial Times reported on Tuesday.
Reeves’ will also reveal in her spring statement that her 9.9 billion pound ($12.79 billion) fiscal buffer had been wiped out, leaving her with about 4 billion pounds in deficit, FT said, citing people familiar with the forecast.
Britain’s treasury department did not immediately respond to a request for comment outside regular business hours.
($1 = 0.7739 pounds)
(Reporting by Shubham Kalia in Bengaluru; Editing by Christopher Cushing)