Official figures show Britain’s economy has surpassed its pre-recession size for the first time since the 2008 global banking crisis.
The Office for National Statistics says gross domestic product grew by 0.8 per cent in the three months through June compared with the previous quarter. It grew 3.1 per cent over the year, putting it 0.2 per cent ahead of its pre-crisis peak in early 2008.
The global financial crisis triggered a deep downturn for the British economy. By mid-2009, GDP was more than 7 per cent below its pre-recession level.
Treasury chief George Osborne said Friday’s figures marked a “major milestone in our long-term economic plan”.
Government critics say the recovery is not built on solid foundations and point out that per capita GDP remains about 6 per cent lower than before the crisis.
