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The UK Economy

Published online by Cambridge University Press:  26 March 2020

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Abstract

  • GDP will grow by 1.3 per cent this year, and by 1.7 and 2.2 per cent in 2011 and 2012.

  • The saving rate will remain above 6 per cent and per capita consumer spending will not reach its pre-recession peak until 2015.

  • The announced increase in VAT will keep inflation above target until 2012.

  • Public sector net borrowing will fall sharply reaching 2.8 per cent of GDP in 2015–16.

  • The Emergency Budget has raised the probability of a decline in output in 2011 as compared to 2010 to 19 per cent.

Type
Economic Overview
Information
National Institute Economic Review , Volume 213 , July 2010 , pp. F3
Copyright
Copyright © 2010 National Institute of Economic and Social Research

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