AS16: Chancellor pins hopes on productivity | KPMG | UK

Autumn Statement 2016: Chancellor pins hopes on productivity

AS16: Chancellor pins hopes on productivity

Head of macroeconomics at KPMG in the UK, comments on the Chancellor’s Autumn Statement announcement.

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Yael Selfin, Head of Macroeconomics at KPMG in the UK, comments:

“The Chancellor proved a bigger spender in his first Autumn Statement and focused on one of the fundamental challenges facing the UK economy beyond Brexit - productivity. 

“It is a pity that there was not more focus on education. If the government intends to make the UK less reliant on non-UK workers post Brexit, the readiness of the local labour force will need to improve.

“Public debt could rise above 90% of GDP if the economy fails to pick up as swiftly as OBR forecasts currently show, leaving the Chancellor with small room for manoeuvre to provide a cushion for the economy in later years.”

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For further information, please contact:

Alistair Henry, Citypress (on behalf of KPMG Corporate Communications)

M: 07738 206 847

E: alastair.henry@citypress.co.uk

KPMG Press Office:

T: +44 (0)207 694 8773

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