Budget 2013 continues the Government's unwavering focus on increasing longer-term growth, productive investment and exports by investing heavily in measures to help businesses become more competitive.

But it said the hurricane had not shaken its confidence about longer-term growth, and it left little doubt that its top priority was still to head off inflationary pressures.

Similarly, institutions are accused of 'disloyalty' in bid situations, preferring to take the premium rather than await longer-term growth.

Problems of longer-term economic growth were also on his research agenda.

In addition, disorganization and government missteps in reaction to disasters can curb longer-term growth.

The number of users is up sharply from a year ago and is likely to keep climbing this year, though some analysts say prospects for longer-term growth are sketchy.

While this opportunistic approach can be effective in the early days, it is unlikely to sustain longer-term growth.

This approach seems to be consistent with UK post-war experience since policy-makers have tended to concentrate their attention upon the more short-term objectives rather than on strategies aimed specifically at longer-term growth.

"We may be able to have much more stable and much longer-term growth than we ever had before."

"The forces driving longer-term growth remain intact," he said.