UK Recovery Slow CBI
Published / Last Updated on 22/09/2010
by Ashley Clark, Director
The Confederation for British Industry (CBI) has suggested that economic recovery in the UK will be much slower than previously predicted.
In June, the CBI predicted growth of 2.5% in 2011 but this has now been revised down to 2%.
The CBI cites VAT increases to 20% resulting in reduced consumer activity combined with modest pay increases and general government spending cutbacks.
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