Impending UK recession could be twice as bad as anticipated, say analysts

Contrary to other recent economic analysis the business consultancy EY forecasts 0.7% drop in GDP this year

The UK's impending recession could be twice as bad as previously thought, according to leading economic forecasters at the business consultancy EY.

Reduced government support, higher taxes and an overall worsening outlook have all led the firm's analysts to conclude that the next three years could be worse than they anticipated three months ago.