Spring Budget: OBR upgrades its forecast for 2017
Speaking in today’s Spring Budget, Chancellor Philip Hammond announced that the OBR has upgraded its forecast for this year, from 1.4% to 2%, reflecting the recent strength in the economy.
He went on to say that growth would slow in coming years – to 1.6% in 2018, but picking back up to 2% in 2021.
Hammond called the UK’s economy one which: “continues to confound the commentators with robust growth, record employment, a deficit down by over two thirds.”
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