The UK is set to be the only major economy to shrink this year with all other developed nations experiencing growth, including sanction-hit Russia
The SNP and Scottish Labour have criticised the Conservatives after the International Money Fund warned that the UK's economy will shrink in 2023.The SNP have blamed "Tory incompetence and a disastrous Brexit" for the lack of growth on the three year anniversary of the UK leaving the EU.
It also predicts growth of 0.6 per cent in Italy, 1.8 per cent in Japan and 1.5 per cent in Canada. Even sanction-hit Russia is to grow by 0.3 per cent. “Even Russia, which is being rightly heavily-sanctioned for its invasion of Ukraine, is predicted to grow its economy this year. That is just how far broken Brexit Britain has fallen, and it is only going to get worse because of the economic incompetence of this UK government.
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