The economic Outlook

KPMG: “The picture for 2023 is one of stop-start growth, leading to a full year fall in GDP of 0.2 per cent compared to 2022.”

Goldman Sachs: “Folding in weaker growth momentum, significantly tighter financial conditions and the higher corporation tax from next April, we downgrade our UK growth outlook further and now expect a more significant recession.”

Teneo: “Negative growth is likely to persist throughout 2023 as the UK economy continues to grapple with energy pressures and high interest rates driving a slowdown of the economy, including a reduction in house prices. GDP growth is only likely to turn positive in 2024Q1/Q2.”

IMF: “Increasing price pressures remain the most immediate threat to current and future prosperity by squeezing real incomes and undermining macro-economic stability.”

Below: Wales is introducing a 20mph speed limit to encourage cyclists