Finance Minister John Healey said Britain's gross domestic product is estimated to grow by 1.2% in 2026. (EPA Images pic) LONDON: Britain's economy will grow slightly faster than forecast this year before slowing in 2027, finance minister John Healey said Wednesday as he delivered the government's annual budget.
"War in the Middle East is a key driver affecting" these forecasts, Healey told parliament.
Gross domestic product (GDP) is estimated to grow by 1.2% in 2026, Healey said, up from a government estimate of 1.1% given shortly after the start of the US-Iran war.
The minister added GDP growth would slow to 1.0% next year after Labour had forecast a 2027 expansion of 1.6% in early March.
