The Organisation for Economic Co-operation and Development (OECD) has warned that the global economic slowdown may last longer than expected.It added that the UK economy was headed for a significant downturn that put government spending plans in danger.
The OECD said UK growth would slow to 1.8% this year, and to 1.4% in 2009.
Three factors were hurting the UK and global economy, the OECD said, pointing to weakening property markets, a global credit crisis and high commodity costs.
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