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As the effects of uncertainty diminish, the OBR forecasts growth recovering to 1.7% in 2018, 2.1% in 2019 and 2020, and 2% in 2021.
Environment Agency teams are continuing to work hard to reduce flood risk by putting up temporary barriers, operating flood gates and using pumps. Teams are out on the ground monitoring river levels, checking and maintaining flood defences and clearing blockages in watercourses.
Currently, for every £1 earned after tax above an income threshold, a person receiving Universal Credit has their benefit award reduced by 65p and keeps 35p. They will now keep 37p for every £1, from April 2017.
So departmental spending plans set out in the Spending Review last autumn will remain in place, and departmental expenditure in 21-22 will grow in line with inflation.
Since 2010 we’ve cut income tax for 28 million people and taken 4 million people out of income tax altogether.
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