Britain should take advantage of its Brexit “liberties” to boost prosperity and counter false claims of economic “gloom”, Jeremy Hunt will say today.
The chancellor will deliver a key speech later this morning as he sets the tone for the March budget.
Speaking at Bloomberg’s European headquarters in London just after 9am, Mr Hunt is expected to say that the UK “shouldn’t shy away from the biggest challenge we face, which is our poor productivity” .
He will say: “Our long-term prosperity plan resolutely addresses that challenge. It is a plan that is needed, stimulated and enabled by Brexit and will succeed if it becomes a catalyst for the bold choices that we have to make.
“Our growth plan is a plan built on the freedoms that Brexit offers. It is a plan to increase productivity.”
Mr Hunt is expected to say post-Brexit reforms will be introduced in the coming months, which will free up £100bn of private investment in the UK this decade.
The chancellor will say that “declination about Britain was wrong in the past – and it is wrong today” and claims of economic “gloom” are based on “statistics that don’t reflect the whole picture”.
You can follow the latest updates below.