Earlier during PMQs, we heard Rishi Sunak describe today's fall in inflation as a "major moment for the economy". His chancellor also had some favoura
Earlier during PMQs, we heard Rishi Sunak describe today’s fall in inflation as a “major moment for the economy”.
His chancellor also had some favourable things to say about the country’s economic outlook.
Speaking to BBC Radio 4, Jeremy Hunt has said that “the
UK economy will grow faster over the next six years than in France, Germany,
Italy or Japan”, according to the International Monetary Fund (IMF).
It should be said that forecasting what the economy will be
like six years in the future is highly uncertain.
But the IMF
did indeed predict that the UK economy, as measured through its gross
domestic product (GDP), would be 8.8% bigger by the end of 2029 than at the
start of this year.
That would be more growth than it forecasts for France
(8.3%), Germany (5.7%), Italy (3.5%) or Japan (4.4%).
But it would be smaller than the other two members of the G7
major advanced economies: USA (13.7%) and Canada (10.8%).
It should also be mentioned that other forecasters are less
optimistic about the UK, at least in the short term.
The Organisation for
Economic Cooperation and Development (OECD), for
example, predicts that the UK will have the worst growth in the G7 next year.
www.bbc.co.uk
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