Budget 2012: OBR revises up UK growth forecast

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The Office for Budget Responsibility has revised up its forecast for UK economic growth for 2012 but has cut it for 2013, and said the economy will escape recession.

It predicts the economy will expand by 0.8%, an increase from the previous forecast of 0.7%, and in line with the private sector consensus. However, the figure is still well below the Bank of En...

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