Autumn Statement 2014: The Office for Budget Responsibility has increased its forecast for UK economic growth, the chancellor of the exchequer has confirmed.
Delivering his Autumn Statement, chancellor George Osborne told the House of Commons that the OBR had revised its March forecast 2.7% growth in 2014 up to 3%.
The growth rate for next year has also been increased, with the OBR now expecting GDP to grow by 2.4% in 2015.
The economy will then grow by 2.6% in 2016, 2.4% in 2017 and 2.3% in 2018.
The independent body has also revised its estimates for job creation.
Osborne said the OBR’s March estimate for UK job creation had been doubled to more than 500,000.
