Theresa May and Phillip Hammond are in Gloucestershire today, discussing what impact the Autumn statement will have on businesses.

Engineering firm Renishaw, in Nailsworth, is hosting the Prime Minister and Chancellor, showing them how its world-leading R&D connects with Government innovation.

Mr Hammond said in yesterday’s budget that it’s good to prepare for a “rainy day”.

He added that the government was investing to boost economic productivity and infrastructure and there was a “downward path in borrowing”.

When questioned by Sky News about how he would tackle the crippling levels of debt facing the UK economy, Phillip Hammond was clear about his model for the future saying ”The plan I’ve set out yesterday focuses on building the productive capacity of the UK economy by investing it.

This way we will reduce our deficit, when the deficit reduces we will begin to pay off our debt”

Mr Hammond continued to say this was the best way to leave our economy ”Match fit” for the opportunities that will arise as we leave the european union.

 

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