Luke Johnson, the chairman of Gails Bakery, expressed his belief that the UK is already experiencing a recession under Labour's government. He criticized the government's management of the economy, stating that 'everything they have done has gone wrong.' While acknowledging the difficult circumstances Labour inherited, he warned that the economic sentiment is troubling and that he is convinced of a recession in 2025, with the current state being notably detrimental for investors. Johnson highlighted rising unemployment and faltering investments as key indicators of economic decline, contrasting the UK with a more optimistic America.
Johnson stated, 'I think they are a disaster. I accept they were handed a pretty awful set of circumstances.'
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