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Bank charges: UK economic growth cut

Growth predictions for the UK economy this year have been cut by half compared to predictions from three months ago.

Chancellor George Osborne admitted that he thought economic growth in the UK would proceed half as quickly as was previously predicted when he delivered the Budget today.

It was hoped that Mr Osborne could put forward a plan in the Budget that would considerably increase growth in the UK, particularly as the economy has not seen a lot of improvement since the coalition government came into power.

Labour has criticised the lack of growth in the UK, saying that the coalition’s plans for growth are not working.

Recently, the British Chambers of Commerce cut their growth predictions for the next two years.

The domestic economy in the UK has suffered recently, with events such as the downgrading of the country’s credit rating from AAA to AA1. A lack of movement in the domestic economy was one of the reasons why the UK’s credit rating was downgraded.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801559637-ADNFCR

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