Britain’s Chancellor of the Exchequer Philip Hammond has said that uncertainty over Brexit is depressing economic growth in the United Kingdom.
Hammond made the remarks on Friday after official data from the government showed lackluster year-on-year economic expansion. He was talking to broadcasters during a trip to central England to announce 780 million pounds ($996 million) of public investment in high-tech industry.
“Clearly that uncertainty is having a depressing effect on economic growth,” Hammond said.
He added that proposals for the UK withdrawal that were presented last month by Prime Minister Theresa May should lead to economic growth.
Hammond said that he wanted to see growth rates faster than the year-on-year expansion of 1.3 percent recorded in the second quarter of 2018.
According to forecasts from a UK business organization, Britain’s economic growth is set to fall behind other developed economies again this year as it…