Span has just come out and said that it is revising it’s 2013 forecast to -1.3% from -0.5% previously
It expects to turn that around in 2014 to a positive of 0.5%
Also revised down was the deficit forecast to 6.3% of GDP
The deficit target is still way above the 4.5% set by Brussels for 2013 with the ultimate aim to bring it to 3% in 2014, the target set for all countries.
Additional:
- Sees unemployemnt at 27.1% 2013, 26.7% 2014 and 25.8% 2015.
The current rate is 27.2%
- Deputy PM says government will try to cut taxes.
And I might try to go to the moon.
