Britain lowers growth forecasts

22nd June 2010, Comments 0 comments

Britain has lowered its economic growth forecasts for this year and next, finance minister George Osborne announced in an emergency budget on Tuesday.

"Growth in the UK economy ... is estimated to be 1.2 percent this year and 2.3 percent next year," Osborne told parliament.

Only last week, the government said that the economy would grow by 1.3 percent in 2010 and by 2.6 percent in 2011.

© 2010 AFP

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