UK Faces Recession and Lost Decade Without Growth Plan, CBI Says
- Employer group warns of further a drop in investment
- Executives seek business tax break and workplace support
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The UK economy faces a decade of lost growth unless the government takes action on investment tax reliefs, the Northern Ireland protocol and the shrinking workforce, the Confederation of British Industry has warned.
In its latest forecast, the CBI said the UK has already fallen into a “short and shallow” recession that will leave business investment 9% below 2019 levels and productivity 2% below its pre-pandemic trend at the end of 2024.