Home / News / UK recession: 'Hard times are here' says Chancellor Rishi Sunak

UK recession: 'Hard times are here' says Chancellor Rishi Sunak

Chancellor Rishi Sunak has admitted that “hard times are here” as the UK crashes into a deep recession after the worst quarterly fall in output since records began.

Britain’s economy contracted by 20.4pc during the second quarter, leaving it as the world’s worst-hit major economy.

Output continued to recover during June, but wasn’t enough to counteract a plunge that put GDP back at levels last seen in 2003.

Get the latest headlines:

Telegraph.co.uk and YouTube.com/TelegraphTV are websites of The Telegraph, the UK’s best-selling quality daily newspaper providing news and analysis on UK and world events, business, sport, lifestyle and culture.

About News Update

Avatar

Check Also

Separated twins Marwa and Safa return home after months of treatment – BBC News

Marwa and Safa were born in Pakistan in 2017. They were conjoined twins – babies …

Leave a Reply