The state of the economy is 'likely to get worse before it gets better', the Chancellor admitted
despite fresh economic figures showing a modest rise in the country’s GDP in October.are forecast to rise again on Thursday., with state spending reduced by up to three per cent as a result of inflation and further cuts to come in the New Year.
“We’re no different in this country and truthfully, it is likely to get worse before it gets better, which makes it even more difficult when we have big public sector strikes going on at the moment.” Pointing to estimates that the hit totalled between £5.3bn and £15.3bn, she added: “That represents about one to three per cent of all public spending, so it is significant but we believe manageable pressure.”
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