Jeremy Hunt suffers blow as leading economists cut growth forecast for Britain in general election year

Chancellor Jeremy Hunt suffered a blow as leading economists cut their forecasts for growth in Britain warning it will be “sluggish”. The Organisation for Economic Co-operation and Development (OECD) predicted the UK would see the weakest growth across the G7 group of major economies next year. This year, with the general election expected in the autumn, growth will be weak, said the Paris-based think tank, despite signs of the economy picking up. In its latest economic outlook report, it said that there are “some signs that the global outlook has started to brighten” amid easing inflation. The UK’s economy grew by 0.1 per cent last year and is expected to see growth nudge up to 0.4 per cent this year, the OECD said. However, it represents a downgrade to forecasts after previously predicting 0.7 per cent growth for 2024. It also means it is on track to record the second weakest growth across the G7, with only Germany being worse on 0.2 per cent. The new report also said the UK economy is on track to grow by around one per cent next year. This is slower than projected for Germany and the other G7 nations - Canada, France, Italy,...

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