The UK economy will grow faster this year than previously forecast and the deficit will be lower.
At the Spring Statement, the Chancellor Philip Hammond revealed that the Office for Budget Responsibility forecast GDP growth would be 1.5 per cent this year, up from the 1.4 per cent previously expected.
Forecast growth for 2019 and 2020 is unchanged at 1.3 per cent, but growth in 2021 and 2022 is revised down by 0.1 per cent to 1.4 per cent and 1.5 per cent respectively.
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