UK recession is coming but won't last long
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 5 January 2023
⏱️ 29 minutes
🧾️ Download transcript
Summary
Things will get worse before they get better, according to Kevin Ellis, chair and senior partner at PwC UK. He says a UK recession is definitely coming and that some businesses will go under. But he also says that investment may rescue the "good bits of business early enough." Ellis tells David Merritt and Francine Lacqua on this week's episode of In the City that he sees signs the UK economy will come out of a downturn "quite quickly." They also discuss the merits of being in the office at least 3 days a week and why a lot of talent is looking to work outside of London.
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Transcript
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| 1:09.1 | I'm David Merritt. And I'm Francine Lackwa. And this is in the city Bloomberg's podcast connecting you to the stories and the voices at the heart of the city of London. |
| 1:17.7 | Now this week a conversation with Kevin Ellis, chair and senior partner at PWCUK. |
| 1:22.6 | Kevin joined PWCUK's executive board in 2008 to lead the advisory business. |
| 1:28.1 | And he previously spent the majority of his career in business restructuring. |
| 1:31.9 | So Kevin, welcome and thank you for joining us in the city. |
| 1:36.3 | Good morning. It's great to be with you. Thank you for inviting me. |
| 1:39.3 | So I guess hearing when you started back in 2008, of course we all know what was going on with the economy then. |
| 1:47.6 | We know what was happening with companies. |
| 1:49.5 | We're now back in recession in Britain and you've got a ringside seat again at PWC. |
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