Hammond: U.K. Has Turned an Important Corner on Austerity

The transcript discusses the UK's economic strategies, focusing on ending austerity, managing public debt, and reducing the deficit. It highlights the importance of increasing productivity and competitiveness, addressing supply side challenges, and maintaining fiscal reserves amid Brexit uncertainties. The discussion also covers the need for fair taxation in the digital economy and the implications of Brexit on the customs union.

What has the UK government prioritized alongside reducing the deficit?

• Increasing public debt

• Supporting public services

• Reducing productivity

• Raising taxes

What is considered a vital part of the UK's economic plan for the future?

• Reducing productivity

• Increasing public debt

• Securing a good Brexit deal

• Raising taxes

What is the main challenge for the UK's economic growth according to the transcript?

• High unemployment

• Low productivity

• Low public spending

• High inflation

What is the UK's current economic issue according to the transcript?

• Low unemployment

• High inflation

• Supply side problems

• Demand side problems

What is the UK's stance on the level of the pound?

• The market determines the level

• The EU sets the level

• The central bank sets the level

• The government sets the level

What is the focus of the proposed 'Amazon tax'?

• Online sales tax

• Tax on digital platform companies

• Tax on physical stores

• Tax on imported goods

What is the UK's approach to the Customs Union during Brexit negotiations?

• Immediate exit

• Remain indefinitely

• Permanent membership

• Temporary period with continuity