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OBR expected to announce stronger than predicted growth

The Office of Budget Responsibility is expected to announce the UK is experiencing stronger economic growth than previously predicted.

It will release its latest forecast today and is likely to increase its growth estimate for the whole year from 1.2 per cent, which it predicted in June, to 1.7 per cent.

Last month, OBR estimates suggested the economy grew 0.8 per cent between July and September.

The OBR was set up by the coalition Government to make an independent assessment of the public finances ahead of each Budget.

Chancellor George Osborne (pictured) will today deliver his autumn statement in which he will update MPs on the state of the economy. The statement replaces the pre-Budget report and will be a response to the OBR’s updated growth forecasts.

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