Autumn Statement 2013: Key Information

Chancellor George Osborne

Chancellor George Osborne

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.

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Base Rate Rise? Ask SONIA

You to Me Are Everything

SONIA predicts base rate rise

Unsurprisingly, the Bank of England (BoE) has voted to keep interest rates on hold again and it seems everyone is talking about how long they will remain at such low levels for. Taking a quick glance through the finance pages, even the economists can’t agree.

The first increase is expected to occur anywhere between 2013 and 2015 – quite a range of ‘predictions’ (with a spread like that, it’s hard to think of them as ‘forecasts’).  So we thought we’d ask SONIA.  No, not the Liverpudlian pint-sized pop princess, the Sterling Overnight Index Average. Read more of this post

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