The chancellor says the OBR has downgraded the UK's economic growth forecast from 2% to 1% for 2025. Rachel Reeves admits she is "not satisfied with these numbers" and believes her statement is a "serious plan to renew our country". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00Earlier this month, the OECD downgraded this year's growth forecast for every G7 economy,
00:05including the UK, and the OBR has today revised down our growth forecast for 2025, from 2%
00:13in the autumn to 1% today. I am not satisfied with these numbers, and that is why we on
00:20this side of the House are serious about taking the action needed to grow our economy. Backing
00:26the builders, not the blockers, with a third runway at Heathrow airport and the Planning
00:31and Infrastructure Bill. Increasing investment with reforms to our pension system and a new
00:37national wealth fund. And tearing down regulatory barriers in every sector of our economy. That
00:43is a serious plan for growth, that is a serious plan to improve living standards, that is
00:48a serious plan to renew our country.