By Hugo Duncan PUBLISHED: 05:50 EST, 21 March 2012 | UPDATED: 11:25 EST, 21 March 2012 The economy will grow by more than expected this year but the crisis in the euro is ‘a major risk’ to Britain, the Chancellor said today. George Osborne said growth forecasts for 2012 have been nudged up from a paltry 0.7 per cent to a still feeble 0.8 per cent. Delivering his third Budget, he said Britain would ‘avoid a technical recession’ with a return to growth in the first quarter of the year. Scroll down for video Mr Osborne said the economy has ‘carried a little more momentum into the New Year than previously anticipated’.
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February's borrowing figure was expected to be £8.9bn but jumped to £15.2bn
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Extra loans mean Britain's debt mountain now stands at almost £1trillion
Grin and bear it: The news was depressing for @placeholder, pictured today