Osborne upbeat despite economy growth fears

AOL Money Staff
George Osborne
George Osborne

George Osborne has insisted there are "positive signs" in the UK economy despite a think-tank drastically downgrading its growth forecast for Britain.

The Organisation for Economic Co-operation and Development (OECD) predicted a 0.7% fall this year, having previously expected a rise of 0.5%, and said the country will fail to pull out of its double-dip recession in the current quarter.