Thursday, February 20, 2014

Osborne warns recovery not secure as growth forecast raised

The Bank of England has upgraded their forecast for 2014 UK economic growth from 2.8 percent to 3.4 per cent. Despite this, and yesterday's good news on inflation and unemployment, chancellor George Osborne has warned that the job is not finished and the recovery not yet secure.

"We have to go on dealing with our debt and our deficit - and we have no choice but to do so" he said.

"We cannot rely on consumers alone for our economic growth as we did in previous decades. And we cannot put all our chips on the success of the City of London as my predecessors did."

He added that his forthcoming budget would be a budget for growth and investment and to help businesses to export.

1 comment:

Jim said...

Does this debt even exist? its a very deep question that really. Think on it.