0% GDP growth shows there's 'no room for complacency', says Chancellor Jeremy Hunt
in the second half of 2022, which raised hopes for a better-than-expected financial outlook this year.
The chancellor, speaking to Sky's Ed Conway at an International Monetary Fund summit in Washington DC, said:"The growth numbers show there is absolutely no room for complacency. Inflation is higher than we want, growth is lower than we want. "That's why we've put in place a very clear plan in the budget to tackle the two biggest barriers to growth in the economy - businesses not being able to recruit the staff they want... [and] investment by businesses not being as high as we want. So we've put in measures to deal with that."Why no economic growth is a problem
The chancellor added:"But when it comes to the longer-term prospects of the economy, [what] I'm hearing from my finance minister colleagues here in Washington is confidence in the resilience of the British economy - a belief that we're on the right track. "And when you look at the industries of the future - technology, life sciences - these are areas where the UK is very, very strong, and that is very encouraging for us in the longer-term."
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