“Whether the recession will persist into the next quarter and beyond is contingent on both global economic trends and domestic policy effectiveness. With ongoing geopolitical tensions and supply chain challenges, external pressures remain high.
“However, strategic economic interventions can mitigate these effects, potentially steering the UK towards recovery sooner than anticipated.”
Mr Keyes also called for more investment in infrastructure. He said: “If we can increase public spending in the economy on housing, healthcare and education, without increasing taxation this will boost the economy.
“The private sector will follow immediately.”
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