Rolling coverage of the latest economic and financial news, with sterling at its weakest point since March 2020 against the dollar
The British Chambers of Commerce has forecast that the UK will enter into a recession before the end of 2022 (highlighting the pressures on the pound).
Baroness Ruby McGregor-Smith, president of the BCC, told BBC Radio 4’s Today programme that small firms, in particular, need more support.
We still believe, currently, that we are going into recession now.
“We’ve just put out an economic forecast today that talks about that. But all these measures will start to change that because the challenge for us is, we’re not just talking about big businesses, many of whom are going to really, really struggle.