British finance minister Philip Hammond told senior ministers on Wednesday that the economy is strong and public finances are being repaired as he prepared to deliver his half-yearly budget update, Prime Minister Theresa May's spokesman said. Hammond said he will set out measures to support an open and competitive economy, the spokesman added.
"He said that the Spring Statement confirms the resilience of the UK economy and the substantial progress that the government has made in repairing the public finances," the spokesman said. "The Spring Statement builds on this progress and sets out measures to support an open and competitive economy."
(With inputs from agencies.)