AS2011: growth flat for next year

FORECASTS for growth next year will be almost flat next year at 0.7%, down from the 2.5% forecast earlier this year.

Growth for this year will reach 0.9%, down from the firecast of 1.7%. But there will be 3% by 2015.

Osborne said: “Debt challenge greater than we thought because the boom was even bigger and bust was even deeper.”

Osborne said borrowing is falling but not at the rate forecast.


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