The Chancellor of the Exchequer, Alistair Darling, has admitted that the recession that has gripped the UK could last as long as two years, stating that the downturn was likely to be far worse that had originally been anticipated. Read the rest of this entry

According to a recent report economic optimism in the UK has dropped to its lowest level in a quarter of a century, with a number of factors all pointing to the increasing risks of recession. Many are wondering whether the UK is heading the same way as the United States in terms of the economic downturn, and the matter has been made worse by the fact that for the past couple of months interest rates have been left on hold at 5% whilst borrowing costs, in many cases, have continued to rise. Read the rest of this entry