Saturday, June 25, 2022
No menu items!

According to the British Chambers of Commerce, economic growth in the United Kingdom will “grind to a halt” this year before momentarily slipping into negative territory.

Must Read

According to the BCC research, investment growth projections for this year have been lowered from 3.5 percent to 1.8 percent.

The gloomy forecast comes as one of the world’s finest economists predicted that Britain’s growth would be poorer than any other G20 country bar Russia next year.

According to the OECD, there will be no GDP growth in 2023. (Organisation for Economic Co-operation and Development).

The UK is being endangered, according to the group, by rising interest rates and taxes, as well as excessive inflation, which is driving up gasoline and energy prices.

“The headwinds facing the UK economy show no promise of lessening,” said Alex Veitch, the group’s director of policy.

“The war in Ukraine hit the UK just as it was starting to recover from COVID, putting an additional strain on corporate profitability,” he said.

“The anticipated reduction in company investment is particularly alarming.

“It’s critical that immediate action be done here, and we’re having good discussions with the government regarding its review of capital allowances and other policies to encourage corporate investment,” said the group.


Please enter your comment!
Please enter your name here

Latest News

Ten Hag begins his reign at Manchester United at Brighton, while Liverpool begins at Fulham.

Man City will begin their championship defense against West Ham United in the final match of the opening weekend's...

More Articles Like This