UK government does not expect a recession, junior treasury minister says

There are obviously very significant challenges for the global economy ... but there are also considerable underlying strengths to the UK economy," Chief Secretary to the Treasury Clarke told Times Radio. His comments come a week after a warning from the Confederation of British Industry that the economy faces stagnation next year and could easily fall into recession as it slashed its outlook for growth due to surging inflation.


Reuters | London | Updated: 20-06-2022 12:07 IST | Created: 20-06-2022 12:05 IST
UK government does not expect a recession, junior treasury minister says
Simon Clarke Image Credit: Wikipedia
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The British government does not expect the economy to enter a recession, junior treasury minister Simon Clarke said on Monday, as fears of a downturn mount due to high inflation and stagnating growth.

"We don't expect a recession, it is important not to talk ourselves into that mindset. There are obviously very significant challenges for the global economy ... but there are also considerable underlying strengths to the UK economy," Chief Secretary to the Treasury Clarke told Times Radio.

His comments come a week after a warning from the Confederation of British Industry that the economy faces stagnation next year and could easily fall into recession as it slashed its outlook for growth due to surging inflation.

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