Paul Johnson, the director of the Institute for Fiscal Studies (IFS), said 'we're about to get a lot poorer' due to economic 'own goals'.
While most of the policies of the short-lived Truss administration have now been reversed, Mr Johnson said the political instability of recent months was also not good for the economy."And to be reversing policy here, there and everywhere, to be uncertain about your trading relationship with the rest of Europe, to have corporation tax going up, down and round and round and round, all of that is bad for growth.
He sought to blame Russia's invasion of Ukraine for the"global energy crisis, a global inflation crisis and a global economic crisis" and said"we have risen to bigger challenges before".
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