OECD’s UK growth forecasts are “good news”

Nigel Evans has today welcomed the OECD’s revised economic forecasts for the UK.

The OECD's half-yearly health check on the global economy highlighted Britain's brighter growth prospects, and the think-tank revised up the UK's forecasts by more than any other G7 country over the next two years. The OECD now expects the UK economy to grow by 1.4pc this year, from a prediction of 0.8pc in May. It also forecasts growth of 2.4pc in 2014, from a previous estimate of 1.5pc.

Speaking from Westminster, Mr Evans said:

“These revised growth forecasts are good news. They are a vindication of the Chancellor’s sound economic policies and the hard work of the British people and whilst we must never become carried away there is now more reason than ever to believe that 2014 will be a better year for the people of the Ribble Valley and the UK.

“To have a revision that is higher than any other G7 country is tremendously encouraging. I hope that people will begin to see their money going further in the coming months, which in turn will allow them to have greater financial security, and that we can continue to build on this economic recovery.

“I think that this is an opportunity for banks to have the confidence to lend to small and medium sized businesses in the Ribble Valley so that they can expand, create more jobs and further boost the local economy of our area.”