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Dashboard of decline: seven charts that explain Britain’s economic crisis
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The UK is sliding towards a recession. Only six months ago, a strong recovery was expected, but the impact of the pandemic, the slow return to pre-Covid work patterns and soaring inflation driven by the Ukraine invasion have depressed the economy.Last week the governor of the Bank of England, Andrew Bailey, warned that Britons are likely to suffer a deeper and longer downturn than other major industrialised nations.
He also said inflation would be more severe and persistent.Unique to the British experience is Brexit, which has imposed extra costs and restrictions on exporters to the EU and limited the supply of skilled labour.
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