It looks all gloom!
Dr Archer added: "The current softness of the economy and anticipated GDP growth of one per cent in 2011 and 1.5 per cent in 2012 is particularly bad news for Chancellor George Osborne as it is substantially below the OBR's projections of 1.7 per cent growth in 2011 and 2.5 per cent in 2012 on which the Chancellor based his target of reducing the Public Sector Net Borrowing Requirement to £122 billion in fiscal 2011/12."
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GDP downgraded again. not long until UK has a negative growth rate predicited
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