Britain slashes growth forecast to 2.6 per cent in 2011

LONDON: Britain slashed its 2011 economic growth forecast to 2.6 per cent, and cut its annual public borrowing estimate to 155 billion pounds, in the new government's first official data on Monday.

The growth figure, published by an independent fiscal watchdog set up by British Prime Minister David Cameron's coalition administration, compared with the 3.25-per cent expansion which had been forecast by the previous government.

The Office for Budget Responsibility (OBR) added in a statement that the state borrowing forecast compared with the previous estimate of 163 billion pounds.