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The UK is going through its worst economic crisis in forty years. The political crisis sweeping the kingdom is not helping matters.
From our correspondent in London, Mark Roche
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“lamThe UK is slipping into crisis. “Title times Scattered in large black letters over a portrait of Andrew Bailey, Governor of the Bank of England, who appears grey. As evidenced by the disastrous economic forecast announced on August 4 by the head of the Threadneedle Street Issuance Institute, Britons are in the midst of a depression facing the specter of the most serious recession in more than four decades. The daily torrent of bad news is accompanied by a political crisis.
For Andrew Bailey, there is no doubt that inflation is the beast to be cut at all costs, even if it means causing a major economic backlash. Listening to him, the rise in the cost of living, which today is 9.4%, will jump to 13% in the fall, …
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