AFP, London :
Britain’s economy will slow in the coming years, the CBI business lobby warned Tuesday, blaming domestic political turmoil — and the impact of Brexit one day after EU divorce talks began.
The economy will expand by 1.6 percent this year before slowing to 1.4 percent in 2018, according to upgraded forecasts from the Confederation of British Industry, after 1.8-percent growth in 2016.
The CBI, which is Britain’s biggest employers’ grouping, also cited fallout from this month’s inconclusive general election.
“The UK is expected to see steady but subdued economic growth over the next couple of years,” it said in a statement.
“The economy continues to face headwinds, with ongoing political uncertainty and Brexit negotiations, which will require careful navigation by business and the government.”
The latest growth forecasts marked upgrades from prior guidance of 1.3 percent and 1.1 percent, for 2017 and 2018 respectively.
Britain’s economy will slow in the coming years, the CBI business lobby warned Tuesday, blaming domestic political turmoil — and the impact of Brexit one day after EU divorce talks began.
The economy will expand by 1.6 percent this year before slowing to 1.4 percent in 2018, according to upgraded forecasts from the Confederation of British Industry, after 1.8-percent growth in 2016.
The CBI, which is Britain’s biggest employers’ grouping, also cited fallout from this month’s inconclusive general election.
“The UK is expected to see steady but subdued economic growth over the next couple of years,” it said in a statement.
“The economy continues to face headwinds, with ongoing political uncertainty and Brexit negotiations, which will require careful navigation by business and the government.”
The latest growth forecasts marked upgrades from prior guidance of 1.3 percent and 1.1 percent, for 2017 and 2018 respectively.
