The UK economy is set to grow more than forecast in the Autumn Statement over this year and next, Chancellor Jeremy Hunt has said in his Spring Budget statement today (6 March).
Hunt said the Office for Budget Responsibility expects GDP growth to average 0.8% this year, compared to the previously forecast 0.7% growth in the OBR's November 2023 estimate, and the Bank of England's latest prediction of 0.2% growth. The consensus forecasts among economists was for GDP growth of 0.4%, while think-tank Capital Economists had predicted no growth. The economy is then predicted to grow 1.9% in 2025, 2% in 2026, 1.8% in 2027 and 1.7% in 2028, up from predicted growth at 1.4% in 2025, 2% in 2026, 2% in 2027 and 1.7% in 2028 in the OBR's forecasts in November. Spri...
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