British Chancellor George Osborne unveiled his final Autumn Statement of this parliament on Wednesday, arguing he was on course to reduce the UK’s budget deficit and that his austerity policies had strengthened the economy.
Speaking to MPs on Wednesday, the Chancellor said the UK was the “fastest growing economy in the G7,” forecasting a growth rate of 3 percent in 2014, compared to the 2.7 percent predicted earlier this year.
“Four years ago, I presented accounts of an economy in crisis. Today I present a forecast showing the UK is the fastest growing of any major economy in the developed world,” he told MPs.
“We have higher growth, lower unemployment and a deficit half of what we inherited. Britain faces a choice. Do we squander the gains … or do we finish the job?”