The UK economy will expand at the second-fastest rate among the G-7 advanced nations before sinking to the bottom of the pack, the OECD forecasts. Photographer: Mary Turner/Bloomberg Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast . The UK should cut taxes to support the economy before growth grinds to a halt next year, the OECD urged. In its bi-annual economic outlook, the club of rich nations said recent increases in income and business taxes will prove “contractionary” and contribute to a slowdown that will see gross domestic product fail to advance in 2023. The economy will expand 3.6% this year — the second-fastest rate among the Group of Seven advanced nations after Canada — before sinking to the bottom of the pack. Every other G-7 country will grow by more than 1% in 2023, the OECD forecasts. The deteriorating outlook […]