Quarter of a million people could lose job by middle of 2027 as UK ‘flirts with recession’, analysis says

Twin reports from top accounting firms underline scale of economic threat as Iran war shatters business confidence

A quarter of a million people could lose their jobs by the middle of next year as Britain “flirts with recession”, analysis suggests, after business confidence was shattered by the US-Israel war on Iran.

As the chancellor, Rachel Reeves, summoned bank chiefs for talks aimed at containing the fallout, twin reports from top accounting firms underlined the scale of the economic threat facing the UK.