Live updates



'Osborne was wrong' to forecast economic disaster

The Organisation for Economic Co-operation and Development (OECD) has raised its growth forecast for the British economy, despite initial Brexit fears.

The OECD credited strong economic performance coupled with prompt action by the Bank of England to stabilise markets for upping its UK growth projections for 2016 by 0.1% to 1.8%.

ITV News Political Editor Robert Peston said the figure suggests former Chancellor George Osborne was wrong to issue stark warnings of an immediate economic disaster if the country voted to leave the EU.

However, despite hailing the latest figures, the OECD said growth for 2017 would be "well below" pre-referendum forecasts.

Load more updates