Former government debt advisor “not confident” of avoiding double dip

16 08 2010

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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