Things can only get better
The Chancellor tells MPs that the economics are looking good as Britain’s economy tries to bounce back after Covid.
He says: “I’m pleased to say the OBR now expect our recovery to be quicker.
“Thanks to this Government’s actions, they forecast the economy to return to its pre-covid level at the turn of the year –earlier than they thought in March.
“Growth this year is revised up from 4% to 6.5%.
“The OBR then expect the economy to grow by 6% in 2022, and 2.1%, 1.3% and 1.6% over the next three years.
“In July last year, at the height of the pandemic, unemployment was expected to peak at 12%. Today, the OBR expect unemployment to peak at 5.2%.”
Good news… and with wages rising, it’s looking up, he says.
