In the Autumn Statement released today, Philip Hammond set out plans to boost the UK’s economic growth, following the referendum result to leave the EU earlier this year. The Office for Budget Responsibility (OBR) forecasts growth in 2017 of 1.4%, down from 2.2% expected in March, driven by higher inflation hitting consumer demand and continued economic uncertainty affecting business investment. OBR forecasts growth of 1.7% in 2018, 2.1% in 2019 and 2020 and 2% in 2021. Hammond targeted struggling families through a rise in the National Living Wage to £7.50, an increase in the generosity of Universal Credit and a rise in the tax-free personal allowance to £11,500. He also announced plans to increase spending on innovation and infrastructure over five years, including new affordable housing and transport networks. The announcement of an increase in public sector net borrowing requirements moved the UK 10-Year Gilt up to 1.43%, whilst the FTSE 250 index extended earlier gains.