Chancellor raises UK GDP forecasts #AS2013

Delivering the Autumn Statement, Osborne raised GDP expectations for 2013 to 1.4%, well above the 0.6% predicted by the OBR in March. Looking further ahead, he also raised GDP forecasts for 2014 from 1.8% to 2.4%. However, 2015's forecast was revised down from 2.3% to 2.2%. Further out, he said 2016's 2.7% annual growth had been revised to 2.6%, while 2017's 2.8% forecast was cut to 2.7% Osborne (pictured) said the UK was seeking a "responsible recovery" but said much more needed to be done. "Britain's economic plan is working but the job is not done," he said. "We will se...