Rathbone's Chillingworth accuses Chancellor of over-optimism

Rathbone's Julian Chillingworth believes Alistair Darling's economic growth forecasts remain too opt...

Rathbone's Julian Chillingworth believes Alistair Darling's economic growth forecasts remain too optimistic. The Rathbone CIO accused Darling of trying to create a false sense of security ahead of what could be a painful economic slowdown. Today’s Budget downgraded economic forecasts to between 1.75% and 2.25% for 2008 from 2.5% to 3% in October 2007. However, he forecast growth to increase to between 2.25% and 2.75% in 2009 and 2.5% to 3% by 2010. "We believe his economic forecasts are still too high," said Chillingworth. "Comparisons with other G7 countries are all very well, but...