Revised Growth Forecast

HC Deb 22 October 1998 vol 317 c1202W

Mr. Maude

To ask the Chancellor of the Exchequer what briefing was given by his special advisers regarding the revised growth forecast. [55841]

Mr. Gordon Brown

The revised growth forecast will be published in the Pre-Budget Report on 3 November.

Mr. Maude

To ask the Chancellor of the Exchequer for what reasons his intention to publish revised growth forecasts was first announced(a) to the IMF and (b) on 6 October. [55844]

Ms Hewitt

The Annual Meetings of the IMF and World Bank always discuss the world economic situation. Previous Chancellors have used this occasion to comment on the prospects for the UK. And other Finance Ministers comment on their own economies. It would have been unusual for the Chancellor not to do so in his statement to the Annual Meeting on 6 October. And in view of the rapid deterioration in the world economic outlook since the summer, it would have been even less credible not to acknowledge that the Government's next published forecast would include a downward revision to growth in 1999.