Wednesday, November 25, 2015

UK GROWTH FORECASTS REVISED UP, CUTS CONFIRMED

Britain's economic growth forecasts have been revised up, as the UK's Finance Minister set out billions of dollars in spending cuts.

The independent Office for Budget Responsibility expects the UK economy to grow 2.4% next year and 2.5% in 2017.

Chancellor George Osborne surprised many by not announcing cuts to Britain's policing budget, after warnings from critics it would harm the fight against terrorism.

But major cuts in his Autumn Statement were confirmed to a series of government departments as part of an effort to return Britain to a budget surplus.

Opposition Labour insists the budget has sacrificed Britain's national interest for George Osborne's ambitions to be the next Prime Minister.

Mr Osborne says the UK economy is progressing despite serious challenges.

IN: "Our debts… 
OUT: …security."
DUR: 31 seconds