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While the OBR is clear that it cannot predict the deal the UK will strike with the EU, its current view is that the referendum decision means that potential growth over the forecast period is 2.4 percentage points lower than would otherwise have been the case.
And we will introduce a new penalty for those who enable the use of a tax avoidance scheme that HMRC later challenges and defeats.
£102 million will go to more than 100 projects supporting armed forces personnel, their families and veterans; emergency service personnel; children’s hospitals, air ambulances and emergency responders; and museums and memorials, over the next 4 years.
The Prime Minister hosted NATO Secretary General Jens Stoltenberg at Downing Street this afternoon for a wide-ranging discussion on security issues.
The Government will work on subsequent funding arrangements as part of our negotiations to leave the EU and will give more information in due course.
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