U.K. GROWTH RATE SEEN AT THREE PCT THIS YEAR Chancellor of the Exchequer Nigel Lawson, presenting his budget for fiscal 1987/88 to parliament, said U.K. Economic growth was forecast at three pct in calendar 1987. He said the Treasury expected a current account balance of payments deficit in 1987 of 2.5 billion stg, after a 1.1 billion shortfall in 1986. Inflation is expected to be 4.0 pct at the end of 1987, he said, adding it may exceed 4.5 pct by the summer before falling back to 4.0 pct by the end of the year. The planned PSBR for 1987/88 was 4.0 billion stg unchanged when compared with the likely outturn for fiscal 1986/87, Lawson said. Although no explicit target was set for the broad sterling M3 money supply, Lawson said broad money will continue to be taken into account in assessing monetary conditions as well as the exchange rate. The low outturn of the PSBR in 1986/87 was mainly due to the buoyancy of non-oil tax revenues in general, and the corporation tax paid by an increasingly profitable business sector in particular. On oil prices, Lawson said he was sticking to his earlier assumption that North Sea crude prices will average 15 dlrs per barrel in calendar 1987. The treasury would strive to keep the PSBR at 1.0 pct of GDP in future, he said.