The UK is facing a 'prolonged recession that will last for the whole of 2024'.

[speak easy]

Britain’s recovery from the Covid-19 pandemic has been even weaker than originally believed and is the only member of the G7 group of leading industrial nations where output is still below its pre-crisis level.

The Office for National Statistics said the UK economy contracted by 0.3% in the three months ending in September – compared with an original estimate of a 0.2% decline – and also revised down growth in every quarter stretching back to the third quarter of 2021.

The Bank of England believes the contraction of the economy in the third quarter marks the start of a prolonged recession that will last for the whole of 2024. Jeremy Hunt, the chancellor, is planning measures in his budget to boost growth but believes the looming recession will be less severe than those in the past.

https://www.theguardian.com/business/2022/dec/22/uk-only-g7-member-with-economic-output-still-lower-than-pre-pandemic-level

Q: So what will the Tories do? A: Cut services, spending and benefits.

British government to usher in new era of austerity in effort to restore market confidence
https://www.cnbc.com/2022/11/15/british-government-to-usher-in-new-era-of-austerity-in-effort-to-restore-market-confidence.html

[smb]

1. Brexit Brokeit nt

[mitch96]

2. That's what I was thinking.. Was it after brexit that things went down the shitter for them? nt