The UK will not enter a "technical recession" this year, Jeremy Hunt told the Commons. Starting his spring Budget, he said the British economy is "proving the doubters wrong" in the face of "enormous challenges".
The Chancellor said: "We remain vigilant, and will not hesitate to take whatever steps are necessary for economic stability. Today the Office for Budget Responsibility forecast that because of changing international factors and the measures I take, the UK will not now enter a technical recession this year.
"They forecast we will meet the Prime Minister's priorities to halve inflation, reduce debt and get the economy growing. We are following the plan and the plan is working. But that's not all we've done."
