IMF Economic Outlook - Commons Urgent Question

Part of the debate – in the House of Lords at 4:10 pm on 31st January 2023.

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Photo of Baroness Penn Baroness Penn The Parliamentary Secretary, HM Treasury 4:10 pm, 31st January 2023

My Lords, I believe that that is not a forecast but a modelling assumption. We will look at the record of the UK economy since leaving the EU, and we continue to grow. Since the Brexit referendum, we have grown at a similar rate to Germany, and, last year, we had one of the highest growth rates in Europe. So we look at the record and the outturn, not just the predictions.