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Growth Prospects

Volume 406: debated on Thursday 12 June 2003

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To ask the Chancellor of the Exchequer what his current assessment is of growth prospects in (a) the UK and (b) the euro area. [118673]

The Government published their latest forecasts for the UK economy in the Budget on April 9. We forecast:

The UK economy to grow by 2 to 2½ per cent. this year, rising to 3 to 3½ per cent. next year.
The euro area economy to grow by 1 per cent. this year, rising to 2¼ per cent. next year.