Autumn Statement: Osborne says UK not facing recession

Osborne said the Office for Budget Responsibility forecasts GDP growth of 0.9% for 2011, 0.7% for 2012, and 2.1% for 2013. In both 2015 and 2016 it growth will hit 3%, he expects. This is a significant revision from the March Budget, which suggested the UK economy would grow by 1.7% during 2011, 2.5% in 2012 and 2.9% in 2012. Osborne said: "The OBR's figure predict no recession in Britain, but the short-term growth figures have been revised down. These figures assume the euro area will find its way through the crisis. It it does not, there could be a worse outcome for Britain, and we ...