Budget 2002: Economic Analysis: ECONOMIC FORECASTS: Growth Forecasts Are Raised Although Economists Doubt Long-Term Claims
Thornton, Philip, The Independent (London, England)
THE BRITISH economy has weathered the worst shock in a decade and is now estimated to be growing even faster than previously thought.
Gordon Brown upped his forecasts for the next couple of years and - in a highly significant move - the estimates of the long-term growth rate.
The Treasury now believes that the trend rate of growth is 2.75 per cent, rather than 2.5 per cent. As a result, the Government will now use growth of 2.5 per cent, rather than 2.25 per cent, when putting together the public finances.
In a crucial move, the Chancellor has decided to stick with his confident forecast for growth this year of 2 to 2.5 per cent that he gave in …
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Publication information: Article title: Budget 2002: Economic Analysis: ECONOMIC FORECASTS: Growth Forecasts Are Raised Although Economists Doubt Long-Term Claims. Contributors: Thornton, Philip - Author. Newspaper title: The Independent (London, England). Publication date: April 18, 2002. Page number: 13. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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