December 1, 2022

Financial institution of England’s recession warning turns highlight to UK

Reuters

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LONDON — The chance of a two-year recession in Britain, flagged this week by the Financial institution of England, underscores the excessive stakes for Prime Minister Rishi Sunak and his finance minister Jeremy Hunt as they put together to announce main tax will increase and spending cuts.

The BoE mentioned on Thursday that Britain’s financial system would shrink for eight three-month quarters in a row…

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