Budget watchdog warns country is in worse shape to resist recession than on the eve of 2007 financial crashBritain’s public finances are in worse shape to resist a recession than they were on the eve of the 2007 financial crash a decade ago and face the twin threat of a fresh downturn and Brexit, the Treasury’s independent forecaster has warned.
The Office for Budget Responsibility – the UK’s fiscal watchdog said another recession was inevitable at some point and that Theresa May’s failure to win a parliamentary majority in last month’s election left the public finances more vulnerable to being blown off course than they were in 2007. Related: commerce Today: sign up for a morning shot of financial news Related: The Tories occupy failed to fix the roof – and now rainclouds are looming | Larry Elliott Continue reading...
Source: theguardian.com