Jeremy Hunt issues warning despite UK narrowly avoiding recession

The UK is “not out of the woods” despite narrowly avoiding a recession at the end of 2022, Jeremy Hunt has said.

Speaking on Friday, the chancellor noted that inflation is still “much to high” and “causing pain for families up and down the country”.

“The fact we have avoided recession - in fact we were the fastest growing major country last year - shows there is underlying resilience in the UK economy,” Mr Hunt said.

“But we are not out of the woods.”

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