UK economy will slam on the brakes next year as nation travels towards hard Brexit, OECD forecasts

Britain’s economy will slam on the brakes in 2018 as the nation travels towards a hard Brexit, according to projections by international economists.

The latest OECD forecast puts the UK’s GDP growth at 1.6 per cent in 2017, slowing to just 1 per cent next year.

The projection is the weakest out of all the other G7 countries.

The OECD said: “The major risk for the economy is the uncertainty surrounding the exit process from the European Union.

“Higher uncertainty could hamper domestic and foreign investment more than projected, but swift progress in negotiations and an outcome that retains strong trade linkages with the European Union would lead to better outcomes than projected.”