Newspaper article The Evening Standard (London, England)

Mr Osborne, the Recovery and 2015

Newspaper article The Evening Standard (London, England)

Mr Osborne, the Recovery and 2015

Article excerpt

WITH the party conference season almost here, George Osborne returns to the Government's main message for the next election. In a speech today he says that the economy is "turning the corner" and that Labour has been proved wrong in demanding a "Plan B". He concedes that fixing the crisis has taken longer than he expected but says that the recovery is now strong.

A slew of recent indicators have been encouraging for Mr Osborne. Last week the OECD sharply increased its forecast for the UK this year, from 0.8 per cent up to 1.5 per cent. That is still modest but solid, the first significant improvement for more than three years. Both house prices and manufacturing have recently rallied strongly. And interest rates are likely to stay unchanged until 2016.

Mr Osborne adds the caveat that there are still "plenty of risks" -- not least that of a fresh crisis in the eurozone, or a Middle Eastern war causing a spike in oil prices, or the growing unease in Asia turning into a full-blown crisis. …

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