IMF warns UK to take biggest hit to growth as result of Iran war

The IMF is warning that the UK will face the biggest hit to growth of any advanced economy as a result of the Iran War.

Reacting to this Andreas Adamides, CEO of Helm (formerly The Supper Club) comments: “The UK taking the heaviest growth hit of any advanced economy is a body blow to the SMEs that are the engine room of this country. They make up 99% of UK businesses, and the majority are already bracing for the impact of the Iran War.

“The Government must act, and act now. Warm words will not keep the lights on. Businesses need tangible support: real relief from rising energy costs and the tax burdens crushing them.

“A country that abandons its businesses in a crisis will have nothing left to rebuild with.”