‘Sobering’ news on UK economy to come in spending review, Rishi Sunak warns
The IndependentSign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Official projections on the prospects for the UK’s economy will make “sobering” reading when they are released alongside the spending review today, chancellor Rishi Sunak has told the cabinet. The aid budget also looks set to come under attack, with development charities concerned that a mooted cut from 0.7 to 0.5 per cent of national income may become permanent. Nobel Prize winner Malala Yousafzai today joined five former prime ministers and the Archbishop of Canterbury in urging the chancellor to honour the Conservative manifesto commitment to maintain the 0.7 per cent figure. The Resolution Foundation think tank has suggested that the OBR’s central forecast could show a permanent reduction in GDP of 3 per cent, equivalent to £1,000 a head.
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