The UK's overall GDP growth forecast is at "significant risk" if business investment is not as robust as the Office of Budget Responsibility (OBR) predicts, ministers warn.
The Treasury Select Committee has today returned a cautious note in its report on George Osborne's first Budget as Chancellor. The group of MPs have focused in particular on the OBR figures on business investment, and the Chancellor's heavy reliance on them to underpin his forecast for "re-balancing" the economy. Their report states: "Business investment is expected to make a significant contribution to GDP growth. "There is a significant risk to the overall GDP growth forecast if business investment is not as robust as predicted." In 2012, the OBR forecasts business fixed inv...
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