UK growth to pick up as cheaper oil cheers consumers, CBI says

Business group raises forecast for 2015 to 2.7%, citing falling costs for households and firms, but warns political uncertainty is hurting confidence

Low oil prices and inflation will help Britain record its fastest growth since the financial crisis, according to the CBI.

The employers’ lobby group has upgraded its outlook for 2015 on the back of falling costs for households and businesses, echoing comments by the Bank of England governor, Mark Carney, last week that the slump in crude oil prices was “unambiguously positive” for the global economy and for the UK.

Falling unemployment, improving wage growth and rock bottom inflation should mean people see more money in their pockets