December 5, 2013 Leave a Comment
Chancellor George Osborne used his Autumn Statement to update MPs, and the nation, on the state of the economy and the government’s future plans.
The biggest news from the Autumn Statement was that the growth forecast for this year has increased from 0.6% to 1.4% and has also been revised up for next year from 1.8% to 2.4%.
Revised figures showed that in 2008-09, under the leadership of Gordon Brown, UK GDP declined by 7.2% and not 6.3% as had been previously thought. This is the equivalent of £112bn.