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英语文摘:British new gov't cuts economic growth forecast of 2011

Source:  Onion  2010-06-15   English BBS   Favorite  

LONDON, June 14 (Xinhua) -- Britain's newly-established Office for Budget Responsibility (OBR) on Monday cut the economic growth forecast of 2011, setting the baseline for the new government's emergency budget to be published on June 22.

In its first forecasts for economic growth announced on Monday, the OBR predicted that British gross domestic product (GDP) will increased by 2.6 percent in 2011, down from the 3.25 percent estimated by the previous Labour government.

The forecast also showed that the UK economy will increase by 1.3 percent this year, same as the former Labor government had predicted. OBR said that British economy will grow by 2.8 percent in 2012 and 2013 and by 2.6 percent in 2014.

The economic forecast is made before an emergency budget of the new British government to be delivered next week with cutting government spending at its core.

The new British coalition government, the first in the past 65 years, was formed on May 11 after the general election on May 6 in which no party won a overall majority, resulting in a "hung parliament".

The new government has form a independent Office for Budget Responsibility which would publish economic and fiscal forecasts independently.

Chancellor of the Exchequer George Osborne, a Conservative lawmaker, has said that it will make it harder for the government to "fiddle the figures". He also claimed that the former Labour government's economic forecasts had mostly been wrong.

However, some analysts also said that the new OBR can not be immune to political pressure.


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