How far will Britain's economy sink?
Updated on 23 January 2009
As Britain officially goes into recession the figures are worse than feared, the worst in 30 years. So just how deep could the economy sink?
You may be forgiven for thinking this had already happened, but by nine o'clock this morning it was official: Britain is in a recession.
GDP fell by 1.5 per cent between October and December last year, this follows a slump of 0.6 per cent between July and September, the biggest decline since 1980.
The conservative leader David Cameron said today "soon the money will run out" and Britain will require a financial bail out if the prime minister continues his financial recovery plan.
Recession in the Golden Mile
Though it is only today that the recession has been declared official, throughout the country the effects of the economic downturn have been felt for a long time.
Leicester in the East Midlands has been no different, with 2,000 people in the county likely to be added to the dole queue this month.
The area is home to one of the largest Gujarati communities in the country, and Gujarati businessmen have expressed some surprise that their strong community links have not protected them more from the slump.
Darshna Soni has visited the restaurants, sari shops and jewellers of Leicester's Belgrave Road to find out more.
