Spending watchdog says squeezed wages and interest rate rises will wipe out past eight years of growth
Business live – autumn statement updates and analysis
The UK has fallen into a recession which will last more than a year and push half a million people out of work, according to a fresh forecast from the Office for Budget Responsibility (OBR).
There will be the biggest fall in living standards since records began with inflation “tipping the economy into a recession lasting just over a year”, the spending watchdog said.
Continue reading…Spending watchdog says squeezed wages and interest rate rises will wipe out past eight years of growthBusiness live – autumn statement updates and analysisThe UK has fallen into a recession which will last more than a year and push half a million people out of work, according to a fresh forecast from the Office for Budget Responsibility (OBR).There will be the biggest fall in living standards since records began with inflation “tipping the economy into a recession lasting just over a year”, the spending watchdog said. Continue reading…