Set 12, 2016

UK economy to hit near standstill as Brexit vote hurts investment – BCC

British Chambers of Commerce more than halves GDP growth prediction for next year to 1%, citing post-referendum uncertainty

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Britain's economy will grind to a near standstill over the coming months as post-referendum uncertainty triggers a slump in business investment, a leading business group has warned as it slashed its growth forecasts.

In its first set of forecasts since the vote to leave the EU, the British Chambers of Commerce (BCC) on Monday more than halved its GDP growth prediction for next year from 2.3% to 1.0%. That would mark the worst economic performance since 2009, when the UK was emerging from a deep recession sparked by the global financial crisis.

The Guardian
Katie Allen

Monday 12 September 2016 00.01 BST

Photo: BCC president Francis Martin called for politicians to support businesses, following remarks from Liam Fox, pictured, that executives had grown lazy. Photograph: Neil Hall/Reuters