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Autumn Statement 2013: Uk Growth Upgrade Hits Record

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http://www.telegraph.co.uk/finance/budget/10486425/Autumn-Statement-2013-UK-growth-upgrade-hits-record.html

Britain's growth prospects will be upgraded by the largest margin in more than a decade this week, as the Chancellor delivers his Autumn Statement against the brightest economic backdrop since the Coalition took power in 2010.

The Office for Budget Responsibility (OBR) – the Government’s independent fiscal watchdog – is likely to upgrade its projection for UK growth in 2013 to 1.4pc, from a forecast of 0.6pc in March.

An upgrade of this size will represent the largest percentage point increase between the Budget and Autumn Statement since the OBR was formed in 2010, as well as the biggest revision in the Treasury’s archive, which dates back to 1997.

Growth for 2014 is also likely to be upgraded, to 2.3pc from 1.8pc.

A stronger growth trajectory means borrowing in the current financial year is expected to undershoot the OBR’s £120bn projection by around £12bn, even taking into account a shortfall from a tax evasion deal struck with Swiss authorities, which was predicted to generate £3.2bn but has so far yielded just £782m.

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I wonder how long it will take for the public at large to realise that in the corporatist state, growth means fvck all as those at the top will keep it all for themselves.

Edited by Tin Foil Hat

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I wonder how long it will take for the public at large to realise that in the corporatist state, growth means fvck all as those at the top will keep it all for themselves.

They've already sussed it:

three in four (77%) do not expect economic growth to have much impact on their standard of living over the next year

Ipsos MORI poll

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This is the OBR whos projections go up and down more often than a tarts knickers .

Edited to add, in 2012 they forecast 2% for 2013 and 2.7% next year, 3% for the 2 following years. These figure were mostly revised down in 2013.

So more smoke and mirrors, definitely no 'record' anything.

Edited by frederico

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