UK economy might crash if Trump wins: Think tank shows shocking numbers
British research group warns about UKʼs weak economic future with growth hitting low points in coming years. Trumpʼs possible win and trade rules could make things even worse for British money-makers
A well-known British research group published some not-so-good news about UKʼs money situation: the countrys growth might get super-slow if Donald Trump becomes US president again
The National Institute of Economic and Social Research thinks UK will see tiny growth rates (around 1.2% in next year); however if Trump wins and starts his trade-war plan these numbers could drop to just 0.4%. The long-term outlook isnt great either – they expect 1.4% growth by 2026 and 1.7% by 2030
Relative stability is under serious threat by the potential raising of import tariffs in the United States
The ex-presidents plan includes super-high taxes on stuff coming from other countries:
- 60% tax on Chinese products
- 10% tax on imports from everywhere else
This would make UK banks raise their interest rates which would hit hard the governments new borrow-and-spend plan. The think-tank says prices might jump up 2-3% in just two years – thats bad news for Prime Minister Keir Starmer who wants to make UK the best-performing country in G7
The governments recent tax changes (like making companies pay more social-security money) might lead to some job losses in next 5 years. Trump keeps saying these import taxes are good and will bring lots of money to US‚ but UK experts dont agree with that idea
