UK can ‘defy’ gloomy forecasts despite productivity problems, says Chancellor

Rachel Reeves said Britain does not have to ‘accept’ bleak economic forecasts as she prepares to deliver a Budget widely expected to include significant tax rises (Joe Giddens/PA) - (PA Wire)

Britain does not have to “accept” grim economic forecasts, Rachel Reeves has insisted despite reports she faces a barrage of fiscal bad news ahead of next month’s Budget.

Writing in the Guardian, the Chancellor acknowledged that productivity forecasts from the Office for Budget Responsibility (OBR) could make for tough reading.