EY warns UK GDP growth could fall to just 0.3% in 2026 if Iran's Strait of Hormuz closure persists, raising serious recession risk.

Big Four consultancy EY has said that the UK economy could perform better than first expected this year if the Strait of Hormuz re-opens.

EY’s latest economic outlook also warns that inflation could rise to 6.4% as oil and gas prices soar

Britain's economy may shrink in 2027 if the Strait of Hormuz closure continues. Forecasters predict a 0.2% contraction if the waterway remains shut until mid-2027. This scenario…