British Economy Will Shrink This Year at Fastest Rate Since 1945

AFP: The British economy will shrink this year at the fastest rate since 1945 and suffer sky-high public debt as a result of the global financial crisis, Chancellor of the Exchequer Alistair Darling forecast Wednesday.



However, Darling, delivering his second budget to the House of Commons, predicted the economy would return to growth in late 2009 and would expand by 1.25 percent in 2010.