U.K. Commercial Secretary on Budget, Brexit and Trade

The transcript discusses the UK's economic performance post-Brexit, highlighting unexpected growth and revised forecasts by the OBR. It covers borrowing strategies, productivity measures, and consumer confidence. The Brexit bill's legislative process is examined, along with potential impacts on financial services and trade. The discussion also touches on global trade concerns, particularly with the US.

What was the unexpected outcome of the UK economy post-Brexit according to the first section?

• The economy performed better than expected.

• The economy performed as expected.

• The economy performed worse than expected.

• The economy remained stagnant.

What is the Chancellor's approach to borrowing as discussed in the second section?

• Increase borrowing significantly.

• Maintain current borrowing levels.

• Reduce borrowing prudently.

• Ignore borrowing concerns.

What is a key factor in improving productivity according to the third section?

• Reducing taxes.

• Investing in skills and infrastructure.

• Decreasing interest rates.

• Increasing government spending.

How does the Bank of England contribute to economic stability?

• By managing public spending.

• By setting tax rates.

• By regulating trade policies.

• By controlling interest rates.

What is the legislative process for Brexit as described in the final section?

• It is decided solely by the Prime Minister.

• It includes amendments and debates in both Houses.

• It requires approval from the European Parliament.

• It involves a single vote in the House of Commons.

What is the UK's stance on global trade according to the final section?

• The UK is a proponent of free trade.

• The UK is neutral on trade policies.

• The UK supports protectionism.

• The UK opposes all trade agreements.

How does the UK plan to handle financial services in the event of a hard Brexit?

• By ignoring the potential impacts.

• By reducing the size of the financial sector.

• By relocating financial services to Europe.

• By ensuring the importance of the sector is recognized.