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UK economic growth under pressure

The CBI has today issued an update on economic growth forecasts for the UK which are expected to be around 1% for 2010 and 2.5% for 2011. As a consequence, the UK government's current forecasts of 1.25% growth this year and 3.5% next year are under increasing pressure and many believe that Alistair Darling will use the next budget to revise these figures. But how will this impact upon the next election?

If Alistair Darling does revise his growth forecast figures for the UK economy for 2010 and 2011, both of which are based upon a stronger than expected consumer upturn, he will open himself up to more criticism and highlight the fragile nature of the UK economy. Whether he can afford to maintain his current forecasts, against the odds, in order to keep UK voters onside remains to be seen because this would open the government up the claims of political shenanigans with UK economic forecasts.

There is no doubt that the forthcoming budget will be Alistair Darling's last budget and it will be his most controversial and his most difficult to balance. No other Chancellor of the Exchequer has experienced the problems and difficulties which Alistair Darling has felt over the last two years and maybe in the future he will receive the credit which many believe he actually deserves.

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