The UK has officially entered into recession after the coronavirus crisis caused the economy to contract by a record 20.4% between April and June.
It is the “largest recession on record”, the Office for National Statistics (ONS) said, and the first time a recession has been declared in the UK since the financial crash of 2008.
Chancellor Rishi Sunak admitted “hard times are now here” as the record-breaking contraction in the second quarter (April, May and June) follows a 2.2% fall in the previous three months.
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