POLITICS

Britons Will Not 'Really Feel' The UK's Economic Recovery Until 2017 (GRAPH)

03/04/2014 11:45 BST | Updated 03/04/2014 11:59 BST
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LONDON, ENGLAND - APRIL 01: British Prime Minister David Cameron speaks during a press conference with Italian Prime Minister Matteo Renzi in Downing Street on April 1, 2014 in London, England. Mr Renzi is making his first official visit to the UK since coming to power on February 22, 2014. (Photo by Facundo Arrizabalaga - WPA Pool/Getty Images)

David Cameron has admitted that it would "take time" for Britons to "really feel" the economic recovery as the improving state of the economy gradually lifts workers' pay packets.

Speaking to BBC Breakfast, the prime minister said: "I think over time I think wages will increase…But if your question is: ‘Does it take time for people to really feel a recovery?’ Yes, absolutely it does."

Cameron's comments came as he embarked on a tour to trumpet the creation of nearly 10,000 jobs in three separate firms. But how long will it take before your pay packet starts to "really feel" the recovery?

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According to the government's own forecaster, the Office for Budget Responsibility, Britons' individual wealth as measured by GDP per capita will not reach its 2008 pre-recession peak until 2017.

"GDP per capita cannot be expected to grow sustainably unless productivity grows and productivity has been exceptionally weak in the recent past," the OBR predicts.

Given the OBR continually being forced to downgrade its growth forecasts over the last few years, Britons will be hoping the forecaster will not have to push its prediction back for when pay packets will finally recover.