US EditionUS Tariffs, Tax Hikes to Depress UK Growth This Year and Next, CBI Forecasts Show
- The UK economy is projected to grow by 1.2% this year, down from a previous estimate of 1.6%, according to the Confederation of British Industry .
- The CBI reported that rising employment costs and weak demand are negatively impacting business investment and government growth ambitions.
- Louise Hellem, chief economist at the CBI, emphasized that businesses face many challenges due to domestic and global factors.
- The CBI's forecast suggests that the government must act to ensure a thriving environment for businesses amid these economic pressures.
11 Articles
11 Articles
US tariffs, tax hikes to depress UK growth this year and next, CBI forecasts show
LONDON (Reuters) -One of Britain’s leading business groups on Wednesday slashed its forecast for economic growth in 2025 and next year due to headwinds from U.S. President Donald Trump’s tariffs and an increase in payroll taxes, a survey showed. Growth this year is now forecast to be 1.2%, the Confederation of British Industry said, lower than the 1.6% it predicted in December. The economy will then expand by 1.0% in 2026, down from its previous…
Economist urges firms to act as CBI slashes growth forecasts and labour gaps persist - London Business News
Recent downgrades to the CBI’s UK GDP growth forecasts — to 1.2% in 2025, and just 1.0% in 2026 — signal more than just a cyclical slowdown. They point to… The post Economist urges firms to act as CBI slashes growth forecasts and labour gaps persist appeared first on London Business News
British companies will also feel the impact of higher social security contributions and a higher minimum wage
Coverage Details
Bias Distribution
- 40% of the sources lean Left, 40% of the sources are Center
To view factuality data please Upgrade to Premium
