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This is a list of recessions (and depressions) that have affected the economy of the United Kingdom and its predecessor states. In the United Kingdom a recession is generally defined as two successive quarters of negative economic growth, as measured by the seasonally adjusted quarter-on-quarter figures for real GDP. Name Dates Duration Real GDP reduction Causes Other data Great Slump c. 1430 ...
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. ... It marks the first time ...
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The UK economy is on track to shrink by 1.3% in 2023 amid a recession which is set to last until the end of next year, according to a new economic forecast.
The statement was presented as a budget for growth, with the objective of bringing about the conditions for long-term sustainable economic growth within the UK. The UK had narrowly avoided going into recession at the end of 2022, and although there were some signs of recovery during the weeks preceding the budget, inflation remained high and ...
Annual UK inflation came in at 3.2% last month, a sharp slowdown from a rate above 10% about a year ago. The central bank targets a rate of 2% and expects to more or less reach it in the next few ...
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 ...
On 23 September 2022, the Chancellor of the Exchequer, Kwasi Kwarteng, delivered a Ministerial Statement entitled "The Growth Plan" to the House of Commons. [1] [2] Widely referred to in the media as a mini-budget (it not being an official budget statement), it contained a set of economic policies and tax cuts such as bringing forward the planned 1% cut in the basic rate of income tax to 19% ...