Simon Jones: Buckle up

Aside from sending many people to look at the status of their mortgages, last week’s Bank of England 0.5% interest rate rise announcement included the gloomy news that the United Kingdom’s economy was about to fall into a prolonged period of recession, lifting only in 2024. It is predicted that the slump might not be as steep as the 2008 global financial crisis, but the effects may last just as long.

I wasn’t working on Optician 14 years ago when things went south, so I thought I would have a look at the news and reaction from the time to see how the credit crunch and following recession reverberated within the sector.