Growth forecast at 3% to 3.5% this year
Chancellor Gordon Brown has today forecast UK GDP growth will hit between 3% to 3.5% this year as the global economy continues to move away from recession.
Growth should fall to between 2.5% to 3% by 2006, Brown adds, as the rate falls back to the long-term rate.
Inflation this year will be 1.75%, rising to 2% by 2005 - according to the government's Consumer Price Index method of calculating price changes.
Driving the economy will be increases in business investment - forecast to increase by 4% this year and 6% next year - while trade overall will jump 7.5% this year.
Brown says the unemployment claimant count is now just 2.9% in the UK.IFAonline
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