The Chancellor said Britain ‘has done the hard yards’ and the economy is ‘bouncing back’.
Chancellor Jeremy Hunt has declared he is ready to “cut taxes and bet on growth” after the UK’s gross domestic product grew again in February.
“Already, the progress we have made has meant I’ve been able to cut taxes – rewarding work and helping get more people into employment.ONS director of economic statistics Liz McKeown said widespread growth in manufacturing, particularly in the motor sector, helped spur the economic growth. “Partially offsetting this there were notable falls across construction as the wet weather hampered many building projects.”“Both services and manufacturing have returned to growth this year and the construction sector will likely join them once the rain disruption passes.”
“I have cut National Insurance by a third, from 12% to 8%. That means £900 in the pocket of someone on the average salary,” Mr Hunt said.
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