Brexit blamed for economy slowdown

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unemployment, lower wages, higher prices in the shops.”

The economy will grow by 1.2% this year, down from the 1.6% predicted just five months ago at the Budget.

Officials blamed low business investment caused by Brexit uncertainty. But figures from the Office for Budget Responsibility said the Treasury received an £11billion boost thanks to better than expected income tax and national insurance revenues. Shadow Chancellor John McDonnell accused Mr Hammond of displaying “this Government’s callous complacency over austerity”.

He said: “The Chancellor turns up to threaten us that austerity can only end if we accept a bad Brexit deal.”

Trussell Trust foodbank network chief executive Emma Revie added: “We’re disappointed by today’s Spring Statement, which does not end austerity as promised.”