Expectations for UK growth downgraded as high interest rates hamper the economy
Britain will be one of the worst performing advanced economies this year and next, the Organisation for Economic Cooperation and Development (OECD) has warned, with only Argentina performing worse over the period.
The organisation said Britain’s growth this year would only outpace Germany and Argentina, while next year only Argentina will be below the UK.
The prediction comes amid a row between former Bank of England governor Mark Carney and Liz Truss over whether Britain is turning into Argentina.
Mr Carney earlier this week accused Ms Truss of turning Britain into “Argentina on the Channel” with her mini-Budget.