Energy crisis will hit UK most, out of G7

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, a report says. The latest forecasts from the Organisation for Economic Co-operation and Development reveal a sharp downgrade for the UK economy, which is expected to shrink 0.4% in 2023 and grow by just 0.2% in 2024. It had predicted in September that UK growth would flatline in 2023.