Osborne 'to slash growth forecast'

George Osborne will be forced to reveal a downgraded growth forecast and a £8 billion borrowing overshoot in this week's Budget, it has been predicted.

The Ernst & Young ITEM Club said the Office for Budget Responsibility (OBR) was likely to slash its growth forecasts to just under 1% for 2013 from 1.2%, adding to pressure for bolder moves to kick-start the economy.%VIRTUAL-SkimlinksPromo%