Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Budget 2014: OBR raises GDP forecast to 2.7%

Budget 2014: OBR raises GDP forecast to 2.7%

The Office for Budget Responsibility has revised up its forecast for 2014 GDP growth to 2.7%, which chancellor George Osborne called the biggest inter-Budget upward revision in 'over 30 years'.

At the 2013 Budget, the OBR had predicted 1.8% growth in 2014, but it revised this up to 2.4% at the Autumn Statement in December and up to 2.7% today.

The OBR also confirmed 2013 GDP growth of 1.8%, three times the 0.6% it predicted at the last Budget. 

It expects 2015 growth to weigh in at 2.3%, rising to 2.6% in 2016/17, before falling back to the long-term average of 2.5% the following year. 

'The economy is continuing to recover and faster than forecast,' Osborne said. 'We set out our plans and together with the British people we held our nerve...but the job is far from done. We still don't invest enough, export enough or save enough.

'This is a long-term economic plan delivering economic security for the country.' 

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: what's behind the second oil crash?

Brewin's Gutteridge: what's behind the second oil crash?

This week Brewin Dolphin's research head talks to Will Riley, co-manager of the Guinness Global Energy fund, about what next for oil.  

Play AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Bullas: what drove my UK small cap outperformance

AA-rated Richard Bullas has quietly been making a name for himself at the helm of the Franklin UK Smaller Companies fund.

Play Sector spotlight: how Harwood's Philbin is playing emerging markets

Sector spotlight: how Harwood's Philbin is playing emerging markets

Emerging markets have been a rollercoaster for investors, but amid the doom there have been have been bright spots, such as India. 

Your Business: Cover Star Club

Profile: CHI's bond supremo on liquidity and bond risk management

Profile: CHI's bond supremo on liquidity and bond risk management

'Some people have been extremely complacent about rate rise risk. Myself, I wish they would just get on with it.'

Wealth Manager on Twitter