Video: UK economy to grow faster than expected this year and next: finance minister
Video
UK economy to grow faster than expected this year and next: finance minister
The UK economy is set to grow faster than expected this year and next, the British finance minister Rachel Reeves tells lawmakers while presenting her maiden budget. The nation's GDP will expand 1.1 percent in 2024 and by 2.0 percent in 2025 -- above estimates given in March by the Office for Budget Responsibility [OBR], Britain's fiscal watchdog. "The OBR are clear, this budget will permanently increase the supply capacity of the economy, boosting long term growth," she says. SOUNDBITE