The OECD growth outlook – the latest since June – has slashed expectations for Britain’s growth in 2027. Oh dear…
Growth this year is expected to be 1.1% , a 0.2 uprate from the previous forecast, while 2027’s is predicted at only 1.0% a 0.1 reduction since June. The OECD also predicts inflation this year of 3.1%, lower than its 3.7% forecast from June, but 2.6% next year, which is up from 2.4%. Things better this year thanks to global resilience in face of Iran, set to deteriorate…
The group also says consumption is “expected to be supported by newly announced government support measures.” In other words – the economy is so sclerotic it will be propped up by Labour subsidies…
It added:
“Stronger efforts are needed to contain and reallocate spending, improve public sector efficiency and enhance revenues to ensure longer-term debt sustainability and maintain the ability of government to react to significant and recurring shocks.”
Shadow Chancellor Andrew Griffith said:
“The OECD have downgraded the UK’s growth for 2027 to just a third of the average growth rate of the G20. We can and should aspire to do much better.”
Down the social security rabbit hole peers Andy…
Asked by Lobby hacks about his past comments on Trump (“any UK politician who gave Trump the time of day should be ashamed right now”) Burnham was blithe:
“Politicians say things throughout their career, but now the important thing is to focus on the moment you are in.”
Were it so easy…