Britain is facing the highest risk of a damaging recession in 12 years and is ill-prepared to cope, the Resolution Foundation said on Sunday.
UK recessions occur on average every decade, reducing living standards by £2,500 per household in today’s prices and raising unemployment by 1m, the think-tank said.
The downturn may not be preventable, the Foundation said, but ministers and officials have failed to draw up plans to respond to it.
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