UK Economic Outlook 2024: Tax Rises, Falling Investment, and Slow Growth Explained

The UK economy faces challenges ahead with predicted tax rises and a drop in business investment. This video breaks down the latest forecasts from the EY Item Club and the Office for Budget Responsibility (OBR), highlighting the potential impact on growth, unemployment, and wages. We'll explore the reasons behind the slowdown, including global trade disruptions and high interest rates, and discuss what it means for businesses and individuals.
Understanding these economic trends is crucial for making informed decisions in the coming year.
Key Points Covered:
Predicted UK growth rate for 2024 and 2025
Impact of tax rises and falling investment on the economy
OBR's revised productivity growth forecast
Unemployment projections and wage growth expectations
Business confidence levels and their implications
Expert insights from EY and the Institute of Directors
Stay informed about the UK economy. Watch now!