City: no substantial growth until 2013

Elizabeth Fournier
THE majority of our Voice of the City panel thinks the UK will not return to annual growth of two per cent until at least 2013, according to our latest survey.

Almost a third (31 per cent) of our panel, recruited in association with, believe the UK economy will start growing at two per cent or more each year in 2013, though a further 26 per cent don’t expect that level of growth until the following year, and another 31 per cent think it will take even longer.

Just seven per cent said they expected two per cent growth by next year.

Our panel also believe the speed of the UK’s economic recovery is crucial to the Conservative party’s chances of winning a majority in 2015.

Seventy-one per cent think the Conservatives would win a general election in 2015 if the economy has recovered “significantly” by then, compared to just 11 per cent who said they could win outright without significant recovery.

We also compared our panellists’ opinion of chancellor George Osborne now to April this year, and found there has been a 10 per cent drop in the balance of people that think he’s doing a good job.

Osborne’s net approval fell from 52 per cent seven months ago to 42 per cent this week.