"The OECD has warned that the Chancellor will not meet her inflation target every year as projected growth in 2026 will plummet to 1.2%, in 2027 it will rise by only 1.3%, however this depends on there being an uptick in global trade. The international economic and trade body said inflation will remain at 2.5% next year and will fall to 2.1% in 2027, the OECD said this means it will remain "above target over the entire period.""
"The choices that I made at the Budget are expected to cut inflation by 0.4 percentage points, helping cut the cost of living for households and costs for our businesses. Alongside our plans to deliver growth, by investing in this country's infrastructure, attracting major private investment, and pushing through bold planning reforms, we'll deliver on our number one mission to put more money in people's pockets."
OECD forecasts project UK growth at 1.2% in 2026 and 1.3% in 2027, contingent on an uptick in global trade. The OECD expects inflation of 2.5% next year, falling to 2.1% in 2027, and said inflation will remain above target over the period. The OECD identified pressures from increased employers' national insurance and further minimum wage rises as damaging to SMEs and contributing to higher unemployment. The Chancellor stated Budget choices will cut inflation by 0.4 percentage points and drive growth through infrastructure investment, private investment attraction, and planning reforms. The Shadow Chancellor warned that the policies will weaken growth and punish work and investment.
Read at London Business News | Londonlovesbusiness.com
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