Economy: GDP Forecast — Question

Part of the debate – in the House of Lords at 2:37 pm on 29 July 2013.

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Photo of Lord Newby Lord Newby Lords Spokesperson (HM Treasury) (Whip), Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords) 2:37, 29 July 2013

We certainly have not seen the rate of growth that we or, indeed, anybody envisaged in 2010, but as the Office for Budget Responsibility has made absolutely clear in a succession of reports, the single greatest check on growth has been the ongoing eurozone crisis because that is where we sell most of our goods.