UK’s slow path boxes in Hammond

Britain’s sluggish economy is heading for more weak growth over the next five years, according to official forecasts announced by chancellor of the exchequer Philip Hammond as the country heads for Brexit.

Mr Hammond, delivering a half-yearly budget update, said he remained focussed on reversing a sharp rise in public debt since the global financial crisis, and he turned his fire on the opposition Labour Party’s plans for higher spending and borrowing.