LONDON – Britain's Treasury chief is set to deliver an upbeat message as he unveils a cautious budget meant to help the country bolster resources as it faces the uncertainty of leaving the European Union.
Philip Hammond is due to deliver Wednesday a plan for the 2017-18 fiscal year that he says will lay the foundations for a "stronger, fairer, better Britain" outside the EU.
The caution comes despite an improvement in the government's finances. Hammond says Britain is still 1.7 trillion pounds in debt, although the latest figures show government borrowing during the 2016-17 year will probably be about 12 billion pounds less than previously forecast.
The Organization for Economic Co-operation and Development says it expects U.K. growth of 1.6 percent this year, up from the 1.2 percent predicted in November.