Budget 2015: At a Glance: “Austerity to Prosperity” Budget 2015

Economy

Office for Budget Responsibility confirms that at 2.6%, Britain grew faster than any other major advanced economy in the world last year.

Chancellor Osborne said that by 2018-19, Britain will have a budget surplus of 0.2%, or £5.2bn, followed by a forecast surplus of 0.3% in 2019-20.

Debt will be falling as a share of GDP from 2015-16, a year earlier than forecast

By 2014-15, the deficit is forecast to have fallen by half, from 10.2% at its peak in 2009-10, to 5% in 2014-15.

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