IMF forecast: "Undeniable" Brexit contributing to economic slowdown

Today, the International Monetary Fund (IMF) released new economic forecasts which project the UK will have the worst-performing economy in the world among high-earning countries this year.

The IMF's forecast predicted the UK will see its economy contract by 0.3% this year, placing it behind all the G7 countries, Saudi Arabia, India, and even sanction-crippled Russia. 

A senior economist at an Edinburgh-based asset management firm warned that the UK could expect to face "recession-like conditions" over the next 12 months.

Best for Britain Chief Executive Naomi Smith said

“The Government’s unworkable Brexit deal has increased costs, shortages and bureaucracy for British businesses. It is the undeniable difference between the UK and other G7 economies.

“As parties draft their election manifestos, now is the time for them to commit to fixing the unholy mess created by Brexit.”