The new chancellor will struggle to hit his 2.5% growth target, economists have said.
Kwasi Kwarteng is planning to announce a mini-Budget next week, in which he will give details of how he intends to hit the economic growth target. But economists have concluded that, while more growth was highly desirable, it would be extremely difficult to accomplish.
Kwarteng told Treasury staff this week their focus should “entirely be on growth”, and they should work more closely with other Whitehall departments to secure the goal, with the City of London playing a key part.
