The chancellor of the Exchequer Alistair Darling has claimed that the recession may be deeper than the government had originally predicted.
In an interview with the Financial Times, he stated that the outlook for the economy was "difficult" and that the country was still "far from through" it.
Mr Darling also stated that the upcoming Budget report may include a package of measures aimed at stimulating the economy and that in addition to this, he may authorise the printing of more money.
However, he was forced to go back on last autumn's speculation that a turnaround from the recession may begin in the second half of 2009.
"In the current climate, no responsible finance minister could say that the job's done, far from it. We are far from through this," he said.
Meanwhile, the Bank of England's monetary policy committee has begun its discussions today (January 7th) over whether to make further cuts to the base rate of interest, a decision it will announce tomorrow.
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