U.K.'s Hammond Sees Growth as Brexit Draws Near

The video discusses the UK's economic outlook, highlighting a cautiously optimistic growth forecast for 2017, raised to 2%. However, forecasts for subsequent years remain unchanged or downgraded due to Brexit uncertainties. Philip Hammond, the Chancellor, aims to balance the budget by 2020, reducing planned borrowing by £23.5 billion over five years. Tax changes include concessions for business rates and a criticized tax rise for the self-employed. Despite a reduced deficit, debt remains high, and while employment is rising, productivity is low.

What was the revised growth forecast for 2017?

• 1.4%

• 2%

• 2.5%

• 3%

What major event is causing uncertainty in the economic forecasts?

• Inflation

• Trade wars

• Brexit

• Global recession

By how much is planned borrowing expected to be reduced over the next five years?

• 15 billion pounds

• 10 billion pounds

• 30 billion pounds

• 23.5 billion pounds

Which group faced a tax rise that was criticized?

• Self-employed

• Shareholders

• Corporations

• Employees

What is the overall economic situation described at the end of the speech?

• Stable growth and high productivity

• High productivity and low employment

• Low debt and high deficit

• Rising employment but low productivity