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O E C D Cuts Growth Forecast

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The influential think-tank now predicts gross domestic product (GDP) will expand 1.7pc next year, far less than the 2.5pc foreseen in its May economic outlook.
Nonetheless, the Paris-based OECD judged the Coalition's fiscal tightening "substantial but necessary", even as official data showing that the coming VAT rise will shave 0.3pc off GDP next year caused ripples.
The OECD's revision will increase fears that official forecasts are too optimistic, coming after the Institute of Directors this week cut its 2011 growth expectations for the UK to 1.2pc from 1.8pc and
argued the need for "greater realism" over the economy.

All our major indices are up up up as reality says down down down. Post-HPI will not be a return to the Brown days of unrestrained borrowing to buy the good life at someone else's expense.

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  • 434 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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