Socialist Worker

British economy in free fall

Issue No. 2158

Despite predictions of recovery, it was revealed this week that the British economy has suffered its biggest fall in more than half a century.

It shrank by 2.4 percent in the first three months of this year. Britain’s total output – gross domestic product – has fallen by 4.9 percent since last year’s figures were announced.

Now even the most optimistic forecast is that it will recover to zero growth. Whatever the odds of that happening are, one sure bet is that unemployment will continue its remorseless rise.

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Tue 30 Jun 2009, 18:25 BST
Issue No. 2158
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