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Britain is facing the worst economic downturn in 60 years, Great Britain’s Chancellor Alistair Darling told The Guardian on Saturday.
Mr Darling said the downturn would be “more profound and long-lasting” than expected and said he had no idea just how serious the credit crunch would become.
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Mr Darling’s comments follow a warning from the Bank of England that 2 million British people could be unemployed by Christmas.
Published: 1-09-08
