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Michael Izza's reaction to the 2018 Spring Statement
Chief executive, ICAEW

Following Philip Hammond's Spring Statement on 13 March, ICAEW's chief executive shared his immediate reaction...

Michael Izza“As the Chancellor himself pointed out, these are only forecasts and forecasts are there to be beaten or indeed challenged. And whilst the outlook looks better than it did in November, the challenge we face as a country is first to meet those forecasts. Otherwise, the light at the end of the tunnel will never get closer.

“Although positive, the ONS growth forecast of 1.4% for 2018 needs to be seen in the context of stronger global growth. The IMF expects the Eurozone to grow by 2.2%, the US to grow by 2.7% and China to grow by 6.6% this year – all exposing the challenges facing the UK.”

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