Government 2.5% medium-term growth target is 'almost impossible'

Policy volatility unhelpful

The UK Government’s 2.5% medium-term growth plan set out in last month’s Mini Budget is “almost impossible” to achieve within the current local and global context.

Speaking at a Treasury Committee meeting questioning economists on the impact of the recent Mini Budget, Sanjay Raja, chief UK economist at Deutsche Bank, argued the plans were not credible. UK has made transition to higher rates world 'as difficult as possible' "To get to 2.5% growth is not only a huge undertaking that requires substantial amounts of supply side reform but to get there within five years is almost impossible," he said. "If we saw anything on 31 October when the chancellor presents his medium-term fiscal policy that has debt to GDP rising the next year and the year ...