The International Monetary Fund has downgraded its 2025 growth forecast for the UK from 1.6% to 1.1%.
The IMF cited President Trump’s trade war, higher borrowing costs and increased energy prices as factors in its revision.
Research commissioned by Best for Britain and undertaken by Frontier Economics found that the UK could secure stronger from closer regulatory alignment on goods and services with the EU and shield both Britain and Europe from US tariffs.
Naomi Smith, Chief Executive of Best for Britain said,
“Voters will judge this government on whether it achieves meaningful growth across the UK and nothing, not a trade deal with Trump, nor the expansion of Heathrow, can deliver the scale and speed of growth that alignment on goods and services with our largest market in the EU.
“In the context of such challenging global economic conditions, removing the barriers to trade for all industries, must be the UK government’s overriding priority when they meet EU leaders next month.”
Analysis of a YouGov poll of almost 5,000 people on behalf of Best for Britain found that when it comes to negotiations with the EU, Brits expect trade to be the government’s top priority above all other options, including improving defence and security cooperation and tackling illegal immigration across the English Channel.
Read more about what a common sense deal between the EU and UK looks like.