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How long could a UK depression actually last?

As the word depression becomes more commonplace in financial discussions around the UK many people are starting to wonder exactly how long a depression could last and the damage it could cause. The fact is that a depression, such as the one seen in the 1930s, could actually last decades and seriously undermine the power and strength of the UK economy on a worldwide basis which would seriously impact upon export business levels.

There will also be a massive increase in unemployment, rising debt for the UK public, falling prices for an array of goods and endless attempts to reduce cost bases. This would for some time become a self fulfilling prophecy whereby costs would be cut by making more people unemployed which would undermine the UK economy, force prices lower again and yet more cost-cutting in the business arena. It is difficult to express in words how hard hitting and dramatic a depression would be and the fact that many people in the UK have never even heard the term economic depression, let alone experienced such a situation, only adds to the uncertainty.

We will continue to monitor comments from the Bank of England and report accordingly on the emergence of what could be a dramatic period for the UK.

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