Measures to speed up economic growth are set to be discussed in a meeting of industry regulators with the chancellor on Monday. Rachel Reeves is expected to outline more plans for cutting the cost of regulation, including environmental measures, as well as scrapping some bodies in their entirety. It comes as the Organisation for Economic Co-operation and Development (OECD) cut its UK growth forecast for 2025 and 2026 as it downgraded prospects for the global economy because of worries over the mounting trade war. The government has made boosting growth its main priority, but the Conservatives said Labour’s taxes were harming growth and called on Reeves to set out a “real plan”. In its latest forecast, the OECD cut its predictions for UK growth to 1.4% in 2025, from its previous forecast of 1.7%, and to 1.2% in 2026, down from 1.3%. The forecast is more optimistic than the Bank of England, which earlier this month cut its UK growth forecast for 2025 to 0.75%.
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