OECD: outlook for global economy is ‘better, but not good enough’

Thinktank forecasts UK will suffer Brexit-related slowdown and calls for end to austerity

Rising inflation and weak wage growth will leave Britain rooted to the bottom of the league table for living standards among the west's richest countries in 2018, the Organisation for Economic Co-operation and Development has warned.

In the last piece of economic news before the general election, the Paris-based thinktank said the next government would spend the first 18 months of the next parliamentary term presiding over a severe squeeze on real incomes.

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