Chancellor George Osborne delivered his autumn budget statement to parliament Tuesday.
Following are reactions to his speech.
CHRIS SCICLUNA, DAIWA CAPITAL MARKETS
I don't think there's anything particularly surprising whether in terms of the OBR numbers or the response of the chancellor.
There's obviously significant downside to the growth forecast that he's presented both in the near term because of the euro debt crisis and certainly clinging to the medium term where we have these growth rates of above 2 percent rising to 3 percent which seem completely far-fetched to us.
It does raise issues both about the policy response and also about UK credit worthiness. I certainly wouldn't be encouraging him to be aggressively tightening to compensate at the moment.
What we see in terms of headline numbers of the OBR forecasts veers towards the over-optimistic end of the spectrum.
DAVID OWEN, EUROPE ECONOMIST, JEFFERIES
These are very realistic growth numbers and are more pessimistic than numbers put out by the banks. The numbers are broadly in line with the OECD forecasts, which is realistic, as is the upward revision of the budget deficit given the problems the UK is facing.
COLIN MCLEAN, FUND MANAGER AT SVM ASSET MANAGEMENT, EDINBURGH
The growth forecast is still a little bit unrealistic and higher than the market believes. You question whether they can see through the plan.
HOWARD ARCHER, CHIEF UK & EUROPEAN ECONOMIST, IHS GLOBAL INSIGHT
The near-term forecasts are broadly similar to our own but I think the long-term forecasts -- out to 2016 -- are very optimistic given that fiscal restraints will continue for quite some time and the uncertainty created by the euro zone crisis.
2011 and 2012 are broadly in line with expectations but from 2013 onward we start to get pessimistic.
The only strong card the chancellor has is the fiscal restraint he's looking at.
(Reporting by Rhys Jones, Sudip Kar-Gupta, Matthew Scuffham; Compiled by Paul Hoskins)