UK economic forecasts

The Treasury has just released their latest set of economic forecasts for the UK economy.

Certainly, independent forecasters are now firmly of the opinion that the recovery in the second half of the year forecasted by the Chancellor will fail to materialise.

Worst still, it would seem that there will be little respite in 2010, with growth remaining static, claimant unemployment rising to 2.23 million (from 1.11 million in 2008) and public sector borrowing hitting £132 billion.

However, given the previous track recvord of some of these economists on predicting the state of the UK economy, it could get far worse.

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