Budget 2016: Chancellor warns of 'dangerous cocktail of risk' as UK growth revised down

OBR forecasts 2% growth in 2016

The UK's GDP growth target for 2016 has been revised down to 2% by the Office for Budget Responsibility (OBR) in today's Budget, from its November target of 2.4%.

Chancellor George Osborne said growth has been revised down due to a "materially weaker" outlook for the country as uncertainty approaches in the months preceding June's EU referendum, adding he has chosen "sound public finances to deliver security". "We can choose to add to risk and uncertainty. In this Budget, we choose to put suitability first. Britain can choose, as others are, short term fixes and more stimulus. Or We can lead the world with long term solutions to long term problems. We choose to put the next generation first," he said. "Financial market turbulence and low produc...