Britain ‘facing highest risk of recession since 2007’: Report – UKMALAYALEE

Britain ‘facing highest risk of recession since 2007’: Report

Monday 15 July 2019 2:54 AM UTC

LONDON July 15: Britain is facing the highest risk of a recession since the financial crisis and needs urgent plans to combat the next downturn, according to an alarming assessment of the nation’s economic health.

Preparations need to be made to reduce the impact, the study by the Resolution Foundation thinktank warns.

It states that both uncertainty around Brexit and the global economic slowdown have led to the highest recession risk since 2007.

It raises the alarm over the potential impact on living standards, warning that the five previous recessions have produced an economic shock equating to a £2,500 loss for each household in the UK.

They have also increased unemployment by one million.

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