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Page last updated at 08:29 GMT, Friday, 26 December 2008

Gloomy forecast for UK in 2009


The Centre for Economics and Business Research (CEBR) predicts the economy will shrink by 2.9% in 2009. It expects consumer spending to decline and investment in business to slump. Mark Pragnell, the centre's managing director, and John McFall, Labour chairman of the cross-party Treasury select committee, discuss the forecast.

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