Philip Hammond, the British finance minister, said:
- The IMF forecasts reflects how we have been affected by the uncertainty resulting from Brexit.
- We should be prepared if no deal situation outcome even though this is not our preferred choice.
- We will make allocations for this, but we will not spend taxpayer money until the outcome of the negotiations is known.
- The uncertainty should be removed as soon as possible.
- We need to determine what is the realistic worst case scenario that we can plan for.
- The UK has a fundamental problem with productivity.
- We are looking at a different path to work on productivity growth.
