Central Bank raises outlook but eyes big risks

The outlook for the economy remains remarkably rosy, as long as a number of big threats, including the potential for the UK to vote to leave the EU, are allayed, Central Bank officials have predicted.

In its latest quarterly outlook, the bank said such was the momentum driving the economy last year that it had raised its GDP growth forecast for this year to 5.1%.

That forecast suggests the Government will easily meet its tax revenue targets this year.