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The Independent UK
The Independent UK
Business
Anna Wise

UK economy to be weighed on by government policy and tax moves, OECD says

OECD United Kingdom Economy G7 Inflation Donald Trump Rachel Reeves United States
Higher tax and spending cuts are set to drag on UK growth next year (Jordan Pettitt/PA) - (PA Wire)

Higher tax and spending cuts are set to drag on UK growth next year, adding to a hit from US President Donald Trump’s tariff hikes and one of the highest inflation rates among the G7 economies, a new report has warned.

The Organisation of Economic Co-operation and Development (OECD) said Britain’s “tighter fiscal stance”, meaning higher taxes and reduced government spending, is expected to weigh on the economy, with growth set to ease sharply from 1.4% this year to 1% in 2026.

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