While the British economy decelerated last year, it did grow at the second-fastest pace in seven years. The expansion was supported by robust domestic demand, in particular from an acceleration in private consumption, which benefited from low inflation and an improvement in employment opportunities. Last month, the government presented the budget for 2016 and pledged to reach a fiscal surplus before the end of the Parliament. Similar to last year, this year’s budget included good news for savers and businesses.
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