Osborne to proclaim that austerity is working

Osborne to proclaim that austerity is working

The chancellor, George Osborne, will use his Autumn Statement to deliver a positive outlook for the UK economy together with the prospect for tax cuts following the next election. The Office for Budget Responsibility support the view, having raised growth forecasts for the UK economy for 2013 from 0.6% to 1.5% and, for 2014, from 1.8% to 2.5%. The economic boost could see the UK deliver a budget surplus as early as 2018, two years earlier than predicted back in March