UK Chancellor George Osborne is unveiling the government’s budget.
As part of that, the government is also revealing various economic assumptions for growth, employment, borrowing, and so forth.
As you should know by now, things are deteriorating in the UK economy, which has caused the pound to tank.
The remarkable part is the speed.
Back in December, growth for the country was expected to be 1.2%.
Today, just a few months later? Just 0.6%. Oof.
BREAKING: U.K. GDP forecast to rise 0.6% in 2013 vs previous est. 1.2%
— Bloomberg TV(@BloombergTV) March 20, 2013
Oh, and here’s the fruits of austerity.
*UK Govt Borrowing To 2017-18 Will Be GBP59.8 Bln Higher Than Planned In Dec. #budget
— DJ FX Trader (@djfxtrader) March 20, 2013
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