Treasury chief Gordon Brown forecast Wednesday that Britain's economy will grow 2.5 percent to 3 percent in 2008 and that inflation will fall back to its 2 percent target this year. Brown made the forecast in parliament while delivering his 11th annual budget. In an earlier forecast, he had said growth for 2007 would be 2.75 percent to 3.25 percent. Brown also forecast that inflation will fall to 2 percent this year and remain on target in 2008 and 2009. «Every country has faced a trebling of oil and commodity prices,» Brown told lawmakers in the House of Commons. «But while inflation peaked at 4.7 percent in America and went as high as 3.3 percent in the G-7, here in Britain, inflation has never gone beyond 3 percent, has fallen from 3 percent to 2.8 percent, and will fall further this year to 2 percent.»
