The former head of the government’s advisory body on national debt has said he is “not confident” about Britain’s prospects for avoiding a ‘double dip’ recession.
Sir Alan Budd, who ran the Office for Budget Responsibility until last week, told BBC Radio 4’s Today programme that a return to recession was a possibility, although he felt continued growth was the more likely outcome.
Asked about whether Britain would avoid going back into recession, Budd said: “I’m not confident of it. Our fan charts show that it is a possibility, just as much stronger growth is a possibility.
“It’s not the most likely outcome. The most likely outcome is that the economy will continue to grow. But you cannot rule it out.”
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