Will the UK Economy Grow By 2% GDP In a Year Under Labour?

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Last Updated 8 months ago

"Certainly, yes [when pressed on whether he was seeking to achieve growth of 2.5 per cent]."Jul 03, 2024

The National News

Robert Colvile"Labour are promising to be the fastest-growing country in the G7. And our growth forecast is 2% or less every single year of this parliament? Yeah, good luck with that."

"The OBR will drop the forecast for 2025/26 growth from 2% to around 1%."

Office for Budget Responsibility"The economy is expected to grow by just over 1 per cent this year, rising to 2 per cent in 2025."Nov 29, 2024

Office for Budget Responsibility

Goldman Sachs"Our economists forecast the UK's GDP to increase 1.2% in 2025, which is slower than the Bank of England’s projection of 1.5%."Nov 27, 2024

Goldman Sachs

KPMG"We expect overall GDP growth to rise to 1.7% in 2025 and 1.4% next year."Jan 15, 2025

Assets

Office for Budget Responsibility"GDP growth is expected to accelerate to 1.9 per cent in 2026."Apr 03, 2025

Office for Budget Responsibility

Naomi Smith"Closer ties with the EU could deliver growth of up to 2.2%. Clawing back up to half the damage caused by Brexit."

UK Trade & Business CommissionResearch shows that "deep alignment with the EU on goods and services will deliver 2.2% economic growth to the UK."

Sharon Graham"Today's #GDP growth figures are still a long way from @Keir_Starmer's target of 2.5% and it is far from clear that we are heading in the right direction."

MetaculusWill the UK achieve an average annual GDP growth rate of 2.5% over the current parliamentary term?

CBI"GDP growth [is] anticipated to reach 1.9 - broadly in line with the average pre-COVID growth rate [of 2.0% between 2010-19]."May 01, 2025

Cbi

Office for Budget Responsibility"We expect growth to accelerate to around 2.0 per cent in 2026 as interest rates decline and spare capacity in the economy is used up."

Office for Budget Responsibility"In our central forecast, real GDP is now projected to grow by 1.0 per cent in 2025, half the 2.0 per cent assumed in October."Apr 03, 2025

Office for Budget Responsibility