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With the outlook for the job market looking bleak, now could be the perfect time to attend a free stock market seminar.
Revised estimates from the CBI claim that the UK economy will contract by 1.7 per cent next year. In September, the organisation forecast growth of 0.3 per cent, reports the BBC.
John Cridland, the CBI's deputy director general, said the chaos in the banking sector over recent months had impacted on consumer and business confidence.
"What is clear is that the short and shallow recession we had hoped for a matter of months ago is now likely to be deeper and longer lasting," he said.
According to the CBI report, interest rates could drop as low as 1.5 per cent, down from the current three per cent. Meanwhile, inflation is expected to ease as consumer prices begin to fall.
