Forecaster’s mid-term outlook buoyed by £50bn in tax increases,despite low growth and falling house prices in 2019Britain’s economy will struggle to grow by more than 1.2% this year as Brexit uncertainty hits trade investment and sends house prices into reverse for the first time since the 2008 financial crash, the Office for Budget Responsibility has warned.The Treasury’s independent forecaster has cut its estimate of economic growth for 2019 from 1.6%, and made only final October. It is also predicting a slide in house prices later this year,which will cut stamp duty tax receipts by £3bn. Brexit uncertainty and changes to the way corporation tax is paid, it said, and will also knock a £2bn hole in tax payments made by companies.
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Source: theguardian.com