For French wines in general, things could be even worse.

"The state of the public finances is a significant downside risk to the outlook if the fiscal rules are to be met," the OECD said.It suggested that Reeves should adopt a "balanced approach" of "targeted spending cuts" and tax increases to improve the UK's public finances.

"Strengthening the public finances remains a priority... including through the upcoming Spending Review," the OECD said.It suggested closing tax loopholes and re-evaluating council tax bands based on updated property values.Under the current system, council tax in England is calculated based on the price the property would have sold for in April 1991. For Wales, it is evaluated on property prices in April 2003.

Meanwhile, worldwide growth is now expected to slow to a "modest" 2.9%, down from a previous forecast of 3.1%, the OECD said.It blamed a "significant" rise in trade barriers and warned that "weakened economic prospects will be felt around the world, with almost no exception".

The OECD's comments come as Bank of England governor Andrew Bailey told a Treasury Select Committee on Wednesday that the global system of trade agreements had been "blown up to a considerable degree" by global trade tensions.

Since US President Donald Trump returned to the White House, a long list of countries have been targeted by tariffs, but Trump's unpredictable approach to implementing the measures has created widespread uncertainty.The cuts will impact multiple teams including marketing departments for its film and television units.

Workers in Disney's casting and development and corporate finance departments will also be affected."We have been surgical in our approach to minimise the number of impacted employees," said a spokesperson. The company also said that no teams will be closed down entirely.

The California-based firm employs 233,000 workers, with just over 60,000 of those based outside the US.Disney owns a host of companies across the entertainment industry including Marvel, Hulu and ESPN.