UK Britain is facing the deepest recession of any big industrialised economy, the International Monetary Fund signalled on Wednesday as it said that the UK economy would shrink 2.8 per cent this year.
The forecast came in a gloomy IMF report that said the world economy would suffer its worst performance for more than 60 years this year. It coincided with a report from the International Labour Organization that said that the global recession would certainly cost at least 18m-30m jobs worldwide, and could claim more than 50m.
