By Angela Monaghan
Roger Bootle, economic adviser to Deloitte and a Telegraph columnist has warned that the "big one", referring to a sharp fall in house prices, may be upon us and that there is a risk the economy will slip into a full-blown recession.
The UK is facing its bleakest period of growth since the recession of the early 1990s. Mr Bootle, who is also managing director of Capital Economics, said that a "prolonged" economic downturn of more than a year may force employers to "wield the axe more sharply than in briefer downturns."
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