UK economy now in recession, Jeremy Hunt announces during Autumn Budget

Office for Budget Responsibility says economy is shrinking again

Jon Stone
Policy Correspondent
Thursday 17 November 2022 15:38 GMT
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Autumn Budget: Jeremy Hunt announces UK now in recession

Britain is “now in recession”, Jeremy Hunt has told MPs as he unveils his plan for more tax rises and spending cuts.

Speaking during his autumn budget the chancellor said the Office for Budget Responsibility believes the economy is now contracting.

A recession occurs when the economy shrinks for two consecutive quarters.

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