{"id":267178,"date":"2025-03-26T13:30:08","date_gmt":"2025-03-26T13:30:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/26\/uk-growth-forecast-halved-for-this-year\/"},"modified":"2025-03-26T13:30:09","modified_gmt":"2025-03-26T13:30:09","slug":"uk-growth-forecast-halved-for-this-year","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/26\/uk-growth-forecast-halved-for-this-year\/","title":{"rendered":"UK growth forecast halved for this year"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i2.wp.com\/ichef.bbci.co.uk\/news\/1024\/branded_news\/7bdf\/live\/b9786060-0a2f-11f0-99ca-0fb0741d66d7.jpg?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"UK growth forecast halved for this year\" title=\"UK growth forecast halved for this year\" \/><\/div><p> <br \/>\n<\/p>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fezwLZ\">The UK economy is now predicted to grow at a much slower pace this year than previously expected, according to the government&#8217;s official forecaster.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fezwLZ\">Presenting her Spring Statement, Chancellor Rachel Reeves said the Office for Budget Responsibility (OBR) thinks the economy will now grow by 1% in 2025, down from its October prediction of 2%.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fezwLZ\">&#8220;I am not satisfied with these numbers,&#8221; said Reeves, who has made growing the economy one of her key promises.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fezwLZ\">However, the OBR raised its growth forecasts for the following years and Reeves said by 2029-30 the economy would be bigger compared to the forecast at the time of the Budget in October.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fezwLZ\">The watchdog now expects the economy to grow by 1.9% in 2026, by 1.8% in 2027, by 1.7% in 2028 and by 1.8% in 2029.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fezwLZ\">The OBR also raised its forecast for inflation this year to 3.2% but expects the rate of price rises to fall back to the Bank of England&#8217;s 2% target in 2027.<!-- --><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/cqjd5rklyrko\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The UK economy is now predicted to grow at a much slower pace this year than previously expected, according to the government&#8217;s official forecaster. Presenting her Spring Statement, Chancellor Rachel Reeves said the Office for Budget Responsibility (OBR) thinks the economy will now grow by 1% in 2025, down from its October prediction of 2%. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":267179,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/7bdf\/live\/b9786060-0a2f-11f0-99ca-0fb0741d66d7.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[10233,569,59783,568],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/267178"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=267178"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/267178\/revisions"}],"predecessor-version":[{"id":267180,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/267178\/revisions\/267180"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/267179"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=267178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=267178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=267178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}