UK economy to become fastest growing in Europe beating Germany, France and Spain.
The British economy will narrow the gap with Germany and extend its lead over France, according to new forecasts from the CEBR.
The British economy will be the best performing major economy in Europe by 2038, a new long range forecast shows. The Centre for Economics and Business Research (CEBR) predicted GDP growth in Britain will settle between 1.6 percent and 1.8 percent over the period to 2038.
Britain will also retain its position as the world’s sixth-largest economy, according to the CEBR. Under the consultancy's world economic rankings, Britain's economy will grow faster than France, Germany, Spain and Italy.
Pushpin Singh, senior economist at CEBR, told Bloomberg: "The fundamentals of the UK economy are still very much strong. London’s status as a financial and advisory services hub enduring, along with the wider strength of the services sector across the UK, will push UK growth."
He added that the impact of Brexit on the UK economy have either been exaggerated or not "explored enough". Express.
