Economy hit hardest

THE UK economy will contract more than any of the world’s seven most advanced nations next year as Britain suffers from painful inflation exacerbated by worker shortages and “untargeted” energy support, according to a report.

The latest forecasts from the Organisation for Economic Co-operation and Development (OECD) reveal a sharp downgrade for the UK economy, which is expected to shrink by 0.4% in 2023 and grow by just 0.2% in 2024.