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OECD says UK economy to flat-line in 2023, urges more support

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Reuters UK

LONDON (Reuters) – Britain’s economy will stagnate in 2023 in the face of high inflation, lagging behind its peers, and the government should consider easing up on tax increases or spending more, the Organisation for Economic Co-operation and Development said. “The government should consider slowing fiscal consolidation to support growth,” the OECD said in a report on the outlook for the global economy published on Wednesday. It said the government’s tax and spending plans at the moment would be “contractionary.” British finance minister Rishi Sunak last month increased his support for househo…

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