No, Osborne, it’s not party time yet

Politics and Insights

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Posted originally by Frances Coppola in Coppola Comment
It seems the UK is something of a poster child for economic recovery. The ONS reports that GDP has grown by 0.8% in Q2 and by 3.1% since Q2 2013. This is a pretty solid performance. And it’s an important milestone, too: the UK’s GDP is now back to its pre-crisis peak.

And the UK has become one of the few bright spots in the IMF’s generally gloomy forecast for world growth. Upgrading the UK’s growth forecast to 3.2% by the end of the year, the IMF said that the UK would maintain its position as one of the world’s fastest-growing economies.

Predictably, the Coalition government and its supporters claimed this as success. George Osborne tweeted that the IMF’s upgrade showed his economic plans were working:

 · Jul 24

IMF upgrades UK growth by more than…

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