Image source, Getty Images The UK economy will grow more gradually than anticipated this year and will stagnate next year, a believe tank states. The Organisation for Economic Co-operation and Development anticipates the UK economy to grow by 3.6% this year, followed by 0% development next year. It suggests the UK will go from the second-fastest growing economy in the G7 group of commercial countries to the slowest growing in2023 The G7 members are the UK, UnitedStates, Canada, Germany, Japan, France and Italy. The OECD is a group of nations which intends to help financial advancement, raise living requirements and promote development in world trade. Laurence Boone, the Paris-based think tank’s chief financialexpert, stated the UK was being hit tough by a mix of elements, consistingof greater interest rates, greater taxes, minimized trade and more costly energy and food. Inflation is anticipated to keep increasing and peak at over 10% at the end of this year priorto slowly decreasing to 4.7% by the end of2023 However, the report does not take into account the chancellor’s emergencysituation procedures revealed on 26th May. Those steps, which consistedof a £400 energy costs discountrate for every family in the UK, are worth around £15bn. A Treasury representative stated lotsof individuals would be conce
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