Darling: It will all be over by Christmas

Wednesday 20th May 2009

Alistair Darling is sticking by his predictions the UK economy will return to growth by the end of the year, defying gloomier international forecasts.

The chancellor said that in the four weeks since he delivered his Budget statement he had seen nothing to convince him his forecast of 1.25 per cent growth in 2010 was wrong.

That forecast flies in the face of an official prediction of a 0.4 per cent decline from the International Monetary Fund (IMF), which is today due to publish its annual health check on the UK economy.

Speaking to the Times, Mr Darling insisted that on the back of last month's G20 London summit, the UK economy was posed to return to growth after an anticipated slump of 3.5 per cent this year.

"I remain confident that we will come through this, provided we ensure that we deliver what we set out at the G20, and what we are doing ourselves, particularly in relation to ensuring that the bank-lending agreements are fully implemented," he said.

"That is very, very important."

The chancellor said he saw his role in government as "very much work in progress" but warned that some tough decisions lay ahead on public spending and borrowing.

"As a country we need to live within our means," Mr Darling explained.

"It will mean we are going to take some tough decisions - they will be difficult."

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