Not necessarily. Depends on how you do in your program, who you get to write for you, and most importantly, what they write about you.
That said, given the focus on mathematics in economics today, most schools tend to prefer students who have more preparation in terms of math courses. This can sometimes translate to a slight, unstated bias against 1-year Master's programs as compared to 2-year programs. Given that 1-year programs are more common in the UK, this might be perceived as a disadvantage.
However, note the qualifying assumptions and conditions I used in the previous argument make it a very minor issue. You should do just fine after a Master's from the UK.