we only borrow for investment and not for day to day spending. day to day departmental spending will grow at 1% per year on average in real terms after 24 25, until the end of the forecast period. capital plans are maintained at the same level set at the autumn statement. we will upgrade tobacco duty and we will freeze the gross yield bans. we will freeze the gross yield bans. we will also maintain the starting rate for isis and is of scripture limits, and bring forward a range of measures to tackle promoters of tax avoidance schemes. the starting rate for isas. taken together, it is a slightly lower tax burden for the rest of the parliament compared to the obr forecast. but the party is run out of money, but a conservative government is reducing borrowing and improving our public finances. by doing so, we are on track to halve
world leader in offshore wind. other parties talk about a green energy revolution, so i gently remind them that nearly 90% of our solar power was installed in the last 13 years, showing, showing it is the conservatives who fix the roof when the sun is shining. now, let s turn to what the obr say about our growth prospects. in november, they expected that the uk economy would enter recession in 2022, and contract by 1.4% in 2023. that left many families feeling concerned about the future. but today, the obr forecast we will not enter a recession at all this year, with the contraction ofjust 0. 2%. the uk economy will grow in every
investment, then it falls below the level that it would have done with the policy level that it would have done with the policy. for the obr to say there is no the policy. for the obr to say there is no overall the policy. for the obr to say there is no overall impact, well, you know. is no overall impact, well, you know, people will be raising questions about the certainty, you have whacked up the rate, waited until the have whacked up the rate, waited until the last moment to come up with the until the last moment to come up with the expensing to replace the super with the expensing to replace the super reduction, they could have done super reduction, they could have done with super reduction, they could have done with knowing that if they were going done with knowing that if they were going to done with knowing that if they were going to build a factory. now they don t going to build a factory. now they don t know if it is going to end, is it not. don t know i
and how much of it would we have had to have done anyway? to have done anyway? this is a rescue budget. to have done anyway? this is a rescue budget. part to have done anyway? this is a rescue budget. part of - to have done anyway? this is a rescue budget. part of the - to have done anyway? this is a - rescue budget. part of the rhetoric has been rescue budget. part of the rhetoric has been about overturning what has been acknowledged by both current inhabitants of downing street as being inhabitants of downing street as being the mistake of the mini budget being the mistake of the mini budget. i think they want to step back and budget. i think they want to step back and say, the bigger think they are dealing with in terms of the economy are dealing with in terms of the economy is in fact a massive energy shock economy is in fact a massive energy shock both economy is in fact a massive energy shock. both of those things. usually weighted shock. both of those things.
judge as well. in the obr forecast, which we get finally. . . judge as well. in the obr forecast, which we get finally. that was one ofthe which we get finally. that was one of the problems. which we get finally. that was one of the problems. we which we get finally. that was one of the problems. we will which we get finally. that was one of the problems. we will get - which we get finally. that was one of the problems. we will get a - which we get finally. that was one | of the problems. we will get a sense of the problems. we will get a sense of whether or of the problems. we will get a sense of whether or not of the problems. we will get a sense of whether or not we of the problems. we will get a sense of whether or not we are of the problems. we will get a sense of whether or not we are back - of the problems. we will get a sense of whether or not we are back to - of whether or not we are back to normai of whether or not we are back to normal after the mini budget.