U.K.’s ‘Weak’ Economy May Need Boost From Tax Cuts, Niesr Says
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The U.K. economy will grow less than previously forecast this year and the government should cut taxes to boost the recovery, the National Institute for Economic and Social Research said.
Gross domestic product will rise 1.3 percent this year, compared with an April forecast of 1.4 percent, Niesr, whose clients include the U.K. Treasury and the Bank of England, said in a report in London today. Growth will accelerate to 2 percent in 2012.