Britain can defy gloomy economic forecasts, says Rachel Reeves

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Exclusive: Fiscal watchdog predicts productivity downgrade will leave chancellor with £20bn gap to fill in budget

• Too many want to do Britain down – Labour will defy the doomsayers and beat the forecasts

Rachel Reeves has said Britain can defy gloomy economic forecasts after the fiscal watchdog infuriated ministers by predicting a productivity downgrade would leave her with a £20bn gap to fill in her forthcoming budget.

The chancellor said she was “determined not to simply accept the forecasts” – which increase the likelihood she will break a key Labour manifesto pledge not to raise income tax – but would instead prove the predictions wrong.

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