BRITAIN WILL BE the only major economy to plunge into recession this year, performing worse even than sanction-hit Russia, as the cost-of-living crisis knocks UK households hard, the International Monetary Fund has warned.
Even Russia, which is under pressure from a raft of sanctions, is predicted by the group to eke out growth of 0.3%. “Short-term challenges should not obscure our long-term prospects, the UK outperformed many forecasts last year, and if we stick to our plan to halve inflation, the UK is still predicted to grow faster than Germany and Japan over the coming years,” he said.
It follows efforts by Hunt last week to talk up the UK economy and its growth prospects in his first major speech in the post, declaring that “declinism about Britain was wrong in the past and it is wrong today”.The IMF offered a chink of light in the otherwise gloomy economic update, predicting that the global slowdown will be shallower than first feared.
IrishmanUnited Thank God for the protocol eh JamieBrysonCPNI
Perhaps Brexit wasn’t their best idea ever?
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