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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12 Responses to “How the OBR’s growth projections have fallen”
Anonymous
And of course you support tax havens, as the Tories do…
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No, but its the consequence of milking the cow and not being thankful for the milk you are taking, then abusing the cow. They get the message.
Now I would rather that those on min wage are removed from taxation. Then I would rather the UK became a low tax country. 20% of a lot, its a lot better then 50-60% of nothing. That way the poor have to pay, like now.
Look Left – Does Labour need its own Plan B? | Left Foot Forward
[…] appeared [over a year ago] suggests Osborne has lost his bet. All the revisions point downward [see here and here]. He is shifting small sums around to give the illusion of chasing […]