Qualified advisers answering your
Financial Questions
call 0800 092 1245

EY ITEM predicts strong growth for UK


A new report from EY ITEM has claimed that the uncertainty of the UK general election will not effect the countries economic growth and predicted a rise of 2.8% this year.

The spring forecast, which uses HM Treasury’s economic modelling, predicts gross domestic product will hit 2.8% this year and 3% in 2016. This is higher than the prediction the official Office of Budget Responsibility made in this years budget, where it predicted growth of 2.5% this year and 2.3% in 2016. This is because EY ITEM has considered expansion in consumer and housing markets, without undue pressure on household debt or house prices. They are also more optimistic in the future of the Eurozone.

EY ITEM Club chief economic adviser Peter Spencer said:
“The economy is taking the general election in its stride as ‘noflation’ trumps politics. The Eurozone recovery is bedding in and completes the positive UK growth picture that we anticipate for 2015 and 2016.
“This is a mirror image of what we saw in 2010-12, when unemployment and inflation were high and Europe was in the doldrums. If the strength of the headwinds that held back the economy during the first years of the coalition is anything to go by, the tailwinds enjoyed by a new administration post 7 May should be strong enough to outweigh the effects of any political uncertainty.”

Need Financial Advice?

If you have any personal finance questions related to this news article, please contact our financial advisers. You can get in touch by asking a question online, calling us on 0800 092 1245, or by arranging a visit.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details