Growth Upgrade Coming in Budget

A sharp uptick in Britain’s economic forecasts will be at the centre of next week’s Budget, the FT reports this afternoon. Chancellor Phillip Hammond will reveal “a significant reduction in borrowing and close to 2% growth in 2017“. Remember those pre-Brexit warnings from the Treasury? How about this one:

“A vote to leave would cause an immediate and profound economic shock creating instability and uncertainty… The central conclusion of the analysis is that the effect of this profound shock would be to push the UK into recession… The analysis shows that the economy would fall into recession with four quarters of negative growth.”

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