Britain is likely to take up to six years to recover from the recession and potentially far longer if European leaders fail to address the single currency crisis, leading forecasters warned yesterday.
Official figures due out today are expected to show that the economic recovery remains lacklustre and that the size of the economy may start shrinking before the end of the year.
Last night, the Institute for Public Policy Research, a Left-leaning think tank, warned that the Office for Budget Responsibility, the Government?s economic watchdog, will reduce its forecast for economic growth later this month.
Tony Dolphin, chief economist at the IPPR, said: ?This is shaping up to be the longest recession the UK has ever experienced.
"Independent forecasters have been revising down their growth figures for 2011 and 2012. If these new forecasts prove correct this recession could last as long as six years.?
Figures for the third quarter of 2011 are expected to show that the economy grew by 0.3 per cent over the summer.
The Government has announced a programme of almost �1?billion of new investment in businesses in an attempt to kick-start the economy.
The Organisation for Economic Co-operation and Development indicated that the global economy could be thrown into a crisis similar to that triggered by the 2008 banking collapse if the euro?s problems were not tackled.
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