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Budget 2014

The UK economy appears to be heading into calmer waters as George Osborne comments in today's 2014 Budget that the IMF believes the UK is "achieving the largest reduction in both the headline and the structural deficits of any major advanced economy in the world".

The Government's prediction is that the UK economy will grow in 2014 by 2.7% and 2.3% next year - higher than previously predicted and arguably the biggest upwards revision for 30 years. Unemployment is a key indicator as it remains unchanged at 7.2% according to today's announcement from the Office of National Statistics. Another positive sign of growth is GDP which the Chancellor informs us is predicted to grow by 2.7% this year, 2.3% in 2015 and then 2.6% in 2017 and 2018 - making the UK economy apparently the fastest growing than Germany, Japan and the US. Based on these positive trends, the UK's annual Budget deficit is predicted to disappear by 2018-19.

In addition to this there were several announcements in this year's budget which may affect adviser's recommendations - read our analysis.

For UK Adviser Use Only - Not Approved For Use With Clients