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Iran war could ‘halt growth’ across UK economy
['Mauricio Alencar', 'Politics', 'Economics Reporter']
City AM
Iran war could ‘halt growth’ across UK economyThere's a cost of doing business crisis in the UK (Pohle/The Times/PA Wire)The Iran war could “halt growth” in the UK economy as the success of Andy Burnham and John Healey’s economic management largely hinges on President Trump’s decision-making, a City firm has warned.
Big Four consultancy EY has said that the UK economy could perform better than first expected this year as its growth forecast was revised up to 0.9 per cent.
EY analysts said “prolonged energy price disruption may halt growth in 2027”.
A separate forecast for a scenario where disruption continues into the middle of 2027 showed growth would slow to 0.5 per cent this year and contract by 0.2 per cent next year.
UK economy to face ‘test’ this yearEY’s forecasts cast a shadow over Andy Burnham’s optimism for the UK economy and drive to ease the cost of living for businesses and households.