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The UK may have tipped into recession at the end of last year. The National Institute for Economic and Social Research (NIESR) last week estimated that GDP fell 0.1pc during the final quarter of 2023, as during the previous three months – with two successive quarters of contraction defining “recession”.

United statesUnited kingdomSouth gloucestershireNational institute for economicOffice for budget responsibilityEngland monetary policy committeeOrganisation for economic cooperationNational insuranceNational instituteSocial researchRishi sunakConservative partyPrime ministerJeremy huntAutumn statementEconomic cooperation