UK set to lead advanced economies in GDP growth


The UK Gross Domestic Product (“GDP”) is forecast to have grown faster than any other major advanced economy in 2014 at a rate of 3.2%, the International Monetary Fund (“IMF”) have predicted. Growth of 2.7% is forecast for 2015.

Reduction in the structural deficit, effective financial regulation and progress on regulatory reform were cited by George Osborne, Chancellor of the Exchequer, as drivers in forecast growth, which exceeded the USA, Germany and France.