CBI revises next year’s economic growth forecast down to 5.1%

Accountant KPMG is even gloomier, predicting 2.6% growth if social distancing rules are imposed

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Economic forecasters have slashed expectations for Britain's recovery and said further pain could follow, depending on the severity of the Omicron variant of Covid-19 and government action to avoid a cliff edge" for business investment.

The Confederation of British Industry, the UK's leading business lobby group, said in June that it expected the economy to expand by 8.2%.