BUDGET '09: Chancellor predicts economic upturn at year end

The UK economy will shrink by 3.5% during 2009, the Chancellor has predicted. Presenting today's ...

The UK economy will shrink by 3.5% during 2009, the Chancellor has predicted. Presenting today's Budget package, Chancellor Alistair Darling also claimed the economy will begin to grow again by the end of this year. Darling expects the UK economy to grow 1.25% in 2010, with 2011 growth at 3.5%. However, the growth figure for 2011 was met with laughing from MPs. However, the near future is expected to be dire, with a further 1.6% fall in GDP expected for the first quarter of 2009, mirroring the last quarter of 2008. Inflation is expected to hit a low of -3% in September, before clim...