The OECD has cut its UK growth forecast for 2027 to 1.1%, down from the 1.3% it expected in March, a detail Rachel Reeves conveniently skipped over today as she welcomed slightly higher growth this year and inflation a smidge lower than previously forecast. As if the country woke up this morning grateful for her heroism…
The 2026 figure is still anaemic at best. At 0.9%, it beats the 0.7% the OECD predicted in spring, but it marks a slowdown from 1.4% last year and leaves Britain near the bottom of the G7. The improvement largely reflects a stronger first quarter, before the war in Iran pushed up energy prices. Elsewhere, the picture is bleak…
Inflation is set to reach 3.7% this year and remain above target at 2.4% in 2027. Debt rises through 105% of GDP, the deficit stays above 4%, and unemployment climbs to 5.5%. Happy Wednesday.
Former leader of the SNP in Westminster Ian Blackford told Times Radio why he believes Nicola Sturgeon’s claim that she spent no time in the kitchen and therefore didn’t see any of her husband’s purchases:
“She doesn’t have a passion for cooking.”