The UK dodged a recession in 2022 but it won’t be so lucky this year. That’s why we expect the biggest wave of corporate insolvencies since the Global Financial Crisis. UK Economists Paul Dales, Ruth Gregory, Ashley Webb and Olivia Cross held a briefing after the release of the January CPI report all about why we think the UK macroeconomic picture is deteriorating, and what this will mean for businesses. During this 20-minute session, the team discussed the latest developments in the data, and highlighted key issues, including:
- The drivers and the extent of the UK’s coming recession;
- The size and scope of the ensuing wave of business insolvencies;
- The long-term impact of this recession and its corporate casualties.