UK Budget 2014: economy predicted to return to pre-crisis level this year

UK marchBritain’s economy will be back at its pre-crisis level later this year, with growth faster than predicted just a few months ago, according to the Office for Budget Responsibility (OBR).

The  OBR raised its forecast for growth this year to 2.7% from 2.4%, putting the UK’s prospects ahead of most other advanced economies.

The economy is expected to be back at its pre-recession peak this summer but in terms of GDP per head, a return to pre-crisis levels will not come till 2017.

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