The Organisation for Economic Cooperation and Development (OECD) revised down its forecast for the UK economy in 2009.
It warns that the UK is still in a sharp recession. Output is set to contract by 4.3% in 2009, worse than the OECD’s previous forecast of a 3.7% fall. It predicts zero growth in the UK economy in 2010 and says the UK budget deficit will hit 14% of GDP next year. Its UK forecasts are worse than those the Treasury made during the Budget.
To read the rest of the article you'll need to log in below
If you've forgotten your details click here for a reminder.
If you haven't got an account, it's free and it only takes a minute to set one up,
click here to register
Political strategy needed to show that Britain is still great for business, says Richard Thomas
"Out of one side of his mouth, Gordon Brown is saying he will make Britain an attractive place to invest, but out of the other he is clobbering higher earners with 50%, which sends out the opposite message.