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The Associated Press
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LONDON -
Britain's Treasury chief says the country is suffering its worst economic crisis in 60 years, and more pain is yet to come.The Guardian newspaper Friday quoted Alistair Darling as saying the slump is "going to be more profound and long-lasting than people thought."Darling said the economic conditions faced by Britain and the world "are arguably the worst they have been in 60 years."Britain is suffering from spiraling energy prices and the global credit crunch. House prices are plummeting for the first time in more than a decade. The rising cost of food has pushed inflation to more than double the government's 2 percent target.Economic growth ground to a halt between April and June, ending more than 15 years of continuous expansion. The British Chambers of Commerce warned that recession is likely within the next six to nine months.
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