9 June 2022, 14:53<\/p>\n
The UK is lagging behind European counterparts in terms of growth because of Brexit, the Director of Tax Research UK tells Nick Ferrari.<\/p>\n
The UK is second only to Russia in an OECD growth forecast for 2023. The report predicts that Britain will have a 0% growth rate for next year.<\/p>\n
\"The OECD is being rather optimistic\", Professor Richard Murphy told Nick Ferrari, adding that the predictions for 2022 are already way off.<\/p>\n
Read more: Boris vows 'cost of living crisis will get better' despite expert's dire economic forecast<\/p>\n
\"There's no sign we're going to get 3.6% this year\" he said, fearing that a 0% growth rate may come in 2022 and 2023 \"might be worse rather than better than that\".<\/p>\n
Professor Murphy referenced the \"peculiar problems the UK has\" as factors in the lack of growth. When quizzed by Nick, he noted that Brexit is the primary issue.<\/p>\n
\"This week we've seen data that's shown only two regions of the UK have grown since 2019 they are London unsurprisingly, perhaps, and Northern Ireland.\"<\/p>\n
Read more: Starmer: Labour will 'make Brexit work' with 'better deal' with EU<\/p>\n
Read more: 'UK not copying EU on USB-C chargers is just the latest way Brexit will screw consumers'<\/p>\n
Read more: Plans to tear up NI post-Brexit deal 'won't get through Lords', says former justice sec<\/p>\n
He went on: \"There's only one explanation for Northern Ireland growing when everyone else isn't which is of course that it's still in the single market.\"<\/p>\n
\"We have literally shot ourselves in the foot with Brexit\" the head of Tax Research UK declared. \"Like it or not politically, this is an economic fact.\"<\/p>\n
Nick wondered how the UK is comparing to our European neighbours. Professor Murphy said that most of the EU is averaging between two and three percent growth.<\/p>\n
\"We are way behind the pack.\"<\/p>\n
<\/p>\n
Link:<\/p>\n
'We literally shot ourselves in the foot with Brexit', tax expert tells LBC - LBC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 9 June 2022, 14:53 The UK is lagging behind European counterparts in terms of growth because of Brexit, the Director of Tax Research UK tells Nick Ferrari. Continue reading