UK economic growth downgraded in blow to Rachel Reeves

Notifications can be managed in browser preferences.

The Confederation of British Industry said rising costs are set to dampen the government’s growth ambitions

I would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice

New forecasts have downgraded economic growth forecasts due to US tariffs and higher costs in a blow for the chancellor.

The Confederation of British Industry (CBI) said rising costs are set to cause “weak” business investment and dampen on the government’s ambitions to accelerate growth in the UK economy,