Warnings of recession are stealing the headlines, but according to one business expert the slowdown could well be shortlived and the better days may even be in sight already.

Mr Warburton, a renowned tax expert at business advisors Grant Thornton, said the warning from the BCC was worrying but we should look at the bigger picture, and it is not all bad, according to the Gloucestershire-based commentator.

Click here to listen to Mike Warburton's interview.

"It is the first time  a major economic organisation has come out and forecast recession. We had Mervyn King last week saying the economy is in a slowdown and could go into recession. Now we have a major organiser forecasting there will be a recession and a 300,000 rise in unemployment. On top of that we have figures coming through for personal bankruptcy," said Mr Warburton.

"My own view is it is not going to be as long or as deep as we have had in the past and we may avoid it altogether."

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