Even if Britain beats OECD forecasts, it faces slow growth and high inflation

Britain suffers from a productivity problem driven by an investment problem, says James Moore

Mark Carney vs Liz Truss: Who’s right on the UK economy (AFP/Getty/PA)

Barely a day after the Bank of England’s former governor, Mark Carney, accused Liz Truss of turning UK plc into a basket case – in stark contrast to her attempts to create a ‘Singapore-on-Thames’ – the OECD joined the fray.

In terms of economic growth, it said, Britain will this year beat Argentina and Germany.

But what about next year? OECD forecasters think Britain will still have its nose in front of Argentina... but not Germany. Nor any other advanced economy.