Long-term growth forecasts revised down

Chancellor Philip Hammond (Credit: ParliamentLive)
The UK's long-term growth forecasts have been revised down, despite a slight improvement in expectations for 2018. The latest update to economic forecasts, by the Office for Budget Responsibility (OBR), estimate that while 2018 is now expected to be slightly better than forecast in November, it has slightly downgraded its forecasts for 2021 and 2022. Chancellor Philip Hammond, delivering the spring statement, was left to say that "forecasts are there to be beaten" as he revealed the latest OBR annual GDP growth forecasts of 1.5%... For the full story register now for free or login below...