Budget: OBR says UK to avoid recession and is on course to grow every year after short blip in boost for Jeremy Hunt

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City AM

By Jack Barnett Britain will avoid a much-tipped recession this year and will grow every year until 2027 after a short blip, a massive reversal from economists warning of the longest contraction in a century just a few months ago, the country’s spending watchdog said today. UK GDP is on course to suffer a mild slump in 2023 of just 0.2 per cent, a big upgrade from the 1.4 per cent downturn forecast by the Office for Budget Responsibility (OBR) in November. The budget forecasts are much rosier than analysts expected and those published by the Bank of England last month, which claimed the UK cou…

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