An OECD report recommends that the UK close tax loopholes introduce revenue-raising measures (such as re-evaluating council tax bands based on updated property values) as well as making targeted spending cuts in light of headwinds facing the UK economy.
The report – OECD Economic Outlook Volume 2025 Issue 1: Tackling Uncertainty Reviving Growth – states that GDP growth is projected to reach 1.3% in 2025 before slowing to 1.0% in 2026 dampened by heightened trade tensions tighter financial conditions and elevated uncertainty. The bank rate is projected to be lowered gradually from its current value of 4.25% and reach a terminal value of 3.5% in the second quarter of 2026.
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An OECD report recommends that the UK close tax loopholes introduce revenue-raising measures (such as re-evaluating council tax bands based on updated property values) as well as making targeted spending cuts in light of headwinds facing the UK economy.
The report – OECD Economic Outlook Volume 2025 Issue 1: Tackling Uncertainty Reviving Growth – states that GDP growth is projected to reach 1.3% in 2025 before slowing to 1.0% in 2026 dampened by heightened trade tensions tighter financial conditions and elevated uncertainty. The bank rate is projected to be lowered gradually from its current value of 4.25% and reach a terminal value of 3.5% in the second quarter of 2026.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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