Abstract
The economy will grow by 1.2 per cent this year, and by 1.8 per cent in 2014. Unemployment rate will remain roughly flat at about 8 per cent both this year and next. Consumer price inflation will remain above 2½ per cent per annum this year but will fall back to 2.3 per cent, on average, next year. Public sector net borrowing will be around £112 billion (7 per cent of GDP) in 2013/14.
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