UK finance minister, Rishi Sunak, lays out his forecasts in parliament
- UK GDP returning to pre-crisis levels in Q2 2022 (Nov forecast was Q4 2022)
- Forecasts 2021 GDP growth of 4% (Nov forecast was 5.5%)
- Forecasts 2022 GDP growth of 7.3% (Nov forecast was 6.6%)
- Sees unemployment rate peaking at 6.5% (Nov forecast was 7.5%)
He is just laying down the assumptions and groundwork before announcing the details of the budget, which is the main thing that UK traders are watching out for.
