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Evening Standard
Evening Standard
Politics
Henry Saker-Clark

UK economy set for £35bn hit from Middle East energy crisis, think tank says

United Kingdom Economy Middle East Niesr the National Institute of Economic and Social Research Bank of England Inflation Recession
The Middle East energy shock could wipe around £35 billion from the UK economy over the next two years in a ‘best case’ scenario (Victoria Jones/PA) - (PA Archive)

The Middle East energy shock could wipe around £35 billion from the UK economy over the next two years in a “best-case” scenario, an economic think tank has warned.

The National Institute of Economic and Social Research (Niesr) said that a more protracted crisis in the Middle East could see the UK enter a recession in the second half this year.

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