BCC slashes UK growth forecast for next two years It also said disappointing public finance figures suggest further austerity measures are likely, which will hit economic growth. The organisation also expects total UK unemployment to increase from 2.5 million - or 7.8pc of the workforce - to a peak of 2.65 million, or 8.1pc of the workforce, in the final quarter of 2014 - an unemployment peak that is 100,000 lower compared to its last forecast. The BCC also expects the Chancellor's key target of eliminating the structural budget deficit to take two to three years longer to complete than expected last March. David Kern, BCC chief economist, added: "Although there will be a slow improvement over the medium-term, GDP will only return to its pre-recession levels at the end of 2014. With global growth remaining weak, the rebalancing of the UK economy towards net exports will still happen, but at a slower pace than we previously thought. The BCC recently called on the Chancellor to introduce voucher schemes to boost growth at home and abroad among Britain's companies. Among a number of initiatives, the BCC proposed a £100m growth voucher scheme, which could give 20,000 businesses up to £5,000 each to negotiate the planning system, access advice on finance and expand staffing levels. In addition, an "export voucher" scheme was suggested to help businesses expand into new markets with minimum bureaucracy.