Anti-Brexit protester Steve Bray (L) and a pro-Brexit protester argue as they demonstrate outside the Houses of Parliament in Westminster on January 08, 2019 in London, England.
Jack Taylor | Getty Images News | Getty Images
The U.K.’s growth prospects are lower even than Germany, whose economy is uniquely exposed to higher energy prices owing to its reliance on Russian gas imports. The OECD said “lingering uncertainty” alongside higher costs of capital would continue to weigh on business investment in the U.K., which has fallen sharply since Brexit.
The U.K.’s independent Office for Budget Responsibility (OBR) has offered a bleaker outlook, projecting a 1.4% GDP contraction in 2023, even as the Bank of England and the government are forced to tighten monetary and fiscal policy to contain inflation and prevent the economy overheating.
The OBR said in its economic and fiscal outlook last week that its trade forecast reflected an…
