The British economy has faced another downgrade, with the EY Item Club lowering its growth forecast for 2025 from 1.5% to 1%. Despite a 0.8% growth in 2024 and low forecasts amid criticism of Labour's Autumn Budget, there are possibilities for improvement in consumer confidence and business investment in the future. However, tightening financial conditions and global trade uncertainty present challenges. Conservative Shadow Chancellor Mel Stride attributes slower growth to Labour policies, highlighting the impact of their budget on business conditions and employment.
"Despite the subdued finish to 2024, there are signs the UK economy could turn a corner and achieve stronger levels of growth this year."
"The forecasts showing the UK economy will grow slower than predicted is a direct result of Labour's budget, their punishing jobs tax and companies being crushed under Labour's huge increase of new regulations."
Collection
[
|
...
]