The economy is facing a period at "least as challenging" as the 1970s, when Britain sank into a deep recession, the deputy governor of the Bank of England, Charles Bean, warned yesterday, The Guardian reports.
He also held out little prospect of any rapid improvement, suggesting that the global economic slowdown was likely "to drag on for some considerable time". The glum forecast follows publication of government data last week that showed the UK economy had ground to a halt in the second quarter of the year, as households and businesses cut spending. Many economists believe a recession is almost inevitable in the coming half year. THE ROYAL INSTITUTION of Chartered Surveyors (Rics) and the National Association of Estate Agents (NAEA) will join forces this week to lobby for an overhaul of t...
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