The UK growth forecast has fallen to 1% for next year, according to the country’s public finances watchdog.
In a new report published on Wednesday along with the first Budget of Andy Burnham’s government, the Office for Budget Responsibility (OBR) predicted rising inflation would slow down anticipated economic growth.
While UK gross domestic product (GDP) is expected to improve by 1.2% this year – up from an estimate of 1.1% – it will go down in 2027.
The OBR previously predicted the UK economy would grow by 1.6% next year.
The forecast is also a blow to the government, which ...
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