11/9/2018, 11:37 AM (Source: TeleTrader)
more TeleTrader news

Hammond: GDP report proof of UK economy strength

United Kingdom Chancellor of the Exchequer Philip Hammond praised the gross domestic product (GDP) figures released earlier today, claiming the report showed the British economy's underlying strength.

"Today’s positive growth of 0.6% is proof of the underlying strength in our economy. We are building an economy that works for everyone with 3.3 million more people in work, lower unemployment in every part of the country, and wages rising at their fastest pace in almost a decade," Hammond said during a visit to Fuller’s Brewery in London on Friday. He added the UK government plans to focus on ensuring such progress continues and people's wages "continue to rise."

In October, Hammond announced an autumn budget plan in which he stated the period of austerity in the UK is "finally coming to an end" and added he allocated £2.2 billion already for Brexit preparations.

Breaking the News / NP