UK recession: 'Hard times are here' says Chancellor Rishi Sunak

Chancellor Rishi Sunak has admitted that "hard times are here" as the UK crashes into a deep recession after the worst quarterly fall in output since records began.

Britain’s economy contracted by 20.4pc during the second quarter, leaving it as the world’s worst-hit major economy.

Output continued to recover during June, but wasn’t enough to counteract a plunge that put GDP back at levels last seen in 2003.

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