Chancellor of the Exchequer Jeremy Hunt said the UK economy will avoid a recession this year as the outlook improves, giving the Treasury a potential boost. “The UK economy is on the right track,” Hunt said in his budget speech to Parliament in London on Wednesday. “The UK will not now enter a technical recession this year,” he said, adding that the outlook is to “halve inflation, reduce debt and get the economy growing.” Hunt said the Office for Budget Responsibility, the fiscal spending watchdog, expects inflation to fall from 10.7% in the final quarter of 2022 to 2.9% by the end of this year. The projection was ... (full story)