BUDGET 2015: The Office for Budget Responsibility’s latest growth forecasts for the UK economy show a slight upwards revision as a result of a dramatic increase in business and private investment.
Delivering his summer Budget, the first from a Conservative government for almost 20 years, chancellor George Osborne said the independent agency was now forecasting growth of 2.4% from 2017 to the end of the decade, up marginally from its forecasts at the March Budget earlier this year.
Its forecasts of 2.4% growth this year and 2.3% next year remain unchanged.
The OBR has also forecast that 1m new jobs will be created over the next parliament. However Osborne said the government hoped to go much further than this, claiming the first Budget of the new parliament would set out a strategy to move the country towards full employment.
