Business group slashes UK growth forecasts for the “long and challenging" year ahead

Britain’s economy is expected to inch ahead just 0.9% this year says the BCC (Rui Vieira/PA) - (PA Wire)

One of Britain’s leading business groups has slashed its forecast for economic growth in what it warns will be a “long and challenging year.” blaming higher tax and a looming global trade war .

The British Chambers of Commerce (BCC) blamed higher taxes and a looming global trade war for its downgrade. It now expects GDP to be just 0.9% higher by end of 2025, a sharp downgrade from its previous forecast of 1.3%.