Irish News
Reasons to be pessimistic as Chancellor prepares to serve bitter pill
It has been suggested several times over the past couple of weeks that I’m overly pessimistic about our economic prospects. I’m drawing that view from almost all the statistics I see, and from the International Monetary Fund’s recent line that ‘the worst is yet to come’. The world, it seems, is in for one of the worst periods for economic growth in the last two decades. More than a third of the global economy is expected to contract over the next year and in the UK the Bank of England is forecasting a two-year recession.