Rachel Reeves' October tax raid means GDP forecasts are lower than they were a year ago.
The influential Centre for Economics and Business Research expects it will grow by 1.3% in 2025 and 1.4% in 2026 - lower than the 1.9% and 1.6% predicted at the same time last year. The report says: "These downward revisions largely reflect the expected responses to policy changes announced at the new Government's inaugural Budget, including changes to capital gains tax and employers' national insurance contributions.
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