IFS Green Budget

Green Budget, Feb 2013: IFS

  • The domestic economy should continue to strengthen and GDP is forecast to grow by around 1% this year
  • Growth should gather pace in the later part of 2013 and average 2.1% in 2014.
  • The financial crisis is likely to have caused substantial permanent damage to potential output, but the vast bulk of this damage has already occurred and potential output growth is expected to average 1.9% over the period from 2013 to 2017
  • Multiple countries leaving the eurozone would likely cause another deep recession in the UK
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