00:01The Chancellor, Rachel Reeves, has delivered her spring statement, setting out the latest
00:06outlook for the UK economy.
00:08She told MPs this government has the right economic plan for our country and said economic
00:14stability has been restored.
00:15The Office for Budget Responsibility has revised its growth forecast, downgrading 2026 to 1.1%
00:23with growth forecast for 2027.
00:26Unemployment is expected to peak at 5.3% this year before gradually falling.
00:32However, the forecasts do not account for potential impacts from rising energy prices linked to
00:38the conflict in the Middle East, which the OBR warns could have very significant impacts
00:42on the global and UK economies.
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