OBR: UK GDP to remain below 3% for five years

In its economic and fiscal outlook, the OBR warns growth rates will remain below 3% for the next five years. It said: "We expect this recovery to be weaker than the recoveries of the 1980s and 1990s, with the calendar growth rate remaining below 3% in every year." The OBR has already forecast growth to be weaker than expected this year, coming in at 1.7% rather than 2.1% Inflation is also expected to be between 4%-5% this year, before falling back next year to around 2.5%.