UK fin min begins his Spring Budget speech in parliament
- markets turbulent
- UK on course for Budget surplus
- global outlook materially weaker
- UK productivity drag isn't easing
- UK economy to grow fastest among major economies
The expected mantras and hot air so far.
Latest forecasts from Office for Budget Responsibility:
- 2016 GDP 2% vs 2.4% in Nov forecast
- 2017 GDP 2.2% vs 2.4% prev
- 2018 GDP 2.1% vs 2.4%
Bingo, and down goes the pound.
- forecasts based on UK remaining in EU
- OBR warns of uncertainty if UK leaves EU
Osborne getting referendum pitch in early.