UK plans for tough post-Brexit life

Britain’s economy is likely to feel the impact of the Brexit vote in the coming years after an initial period of resilience, chancellor Philip Hammond said as he spelled out his plans to steer the British economy through its departure from the EU.

With Britain poised to kick off the process of leaving the EU, Hammond said the UK economy had so far “continued to confound the commentators” by withstanding the referendum shock, setting it up well for the Brexit talks ahead, report William Schomberg and David Milliken.

The British economy is now on course to expand 2% in 2017, up sharply from a forecast of 1.4% made in the latest round of official forecasts in November, according to the Office for Budget Responsibility.