Experts at Goldman Sachs warned of a deeper and “more significant recession” in the UK, following the sacking of Kwasi Kwarteng as chancellor and Prime Minister Liz Truss’ reversal of corporate tax decision.
In its report, the investment downgraded UK’s economic outlook, saying, “Folding in weaker growth momentum, significantly tighter financial conditions, and the higher corporation tax from next April, we downgrade our UK growth outlook further and now expect a more significant recession."
Amidst the people of UK suffering from the impact of cost-of-living crisis and looming recession fears, acting prime minister Boris Johnson seems to have gone for a short holiday trip with wife Carrie.
While the officials from No.10 Downing Street declined to reveal where he went, The Times newspaper reported, citing sources, that Johnson is holidaying for a belated honeymoon with Carrie this week in Slovenia.