How the OBR’s growth projections have fallen
Will Straw runs through the OBR's plummeting growth projections
The chancellor announced today that the OBR’s projection of growth would be 0.9 per cent this year and 0.7 per cent next year. As we feared, this is yet another downgrade from earlier projections, as the chart below shows.
Given OBR’s past optimism, their prediction of a 300% increase in growth between 2012 and 2013 might also be met with scepticism.
See also:
• Whatever Osborne’s growth forecasts today, the reality is probably worse – Daniel Elton, November 29th 2011
• Inflation report is bad news for Osborne’s targets – Tony Dolphin, October 18th 2011
• Cameron’s “failed experiment” leads to yet another economic downgrade – Alex Hern, October 17th 2011
• OECD prediction rocks Osborne’s deficit reduction hopes – Ben Fox, September 9th 2011
• Britain is bottom of the G7′s growth table – Will Straw, August 4th 2011
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