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The UK economy is in a “horrible fiscal bind” as it heads for recession with no room to cut taxes or increase public spending to offer a boost, an influential group of economists has said.
Britain’s economy slipped into a recession at the end of 2023 after output contracted by more than expected in the final three months, according to official figures.
The news will come as a disappointment to Sunak, whose ruling Conservative Party is contesting two local elections in England on Thursday. ... That’s still double the Bank of England’s 2% ...
According to projections published Thursday, the Bank of England now expects UK GDP to grow 0.5% this year, double the pace it forecast in February. By comparison, last year, GDP increased by a ...
Experts warn slump in economy could soon overtake cost of living as main worry for UK
Bank bosses predicted a 0.1% fall in GDP for the current quarter, meaning the economy is in a technical recession. UK ‘in recession’ as Bank of England hikes interest rates to highest since ...
The UK economy recovered from the Covid-19 pandemic much faster than previously thought, according to major revisions of official statistics that have erased Britain’s laggard status overnight.
Central bank confirms further 0.5 per cent hike, bringing base rare to 4 per cent