Downturn 'likely to cause recession':
Prime Minister Gordon Brown told MPs on Wednesday that the global economic downturn was ``likely to cause recession'' in Britain.
The US is likely headed for a deep recession, the International Monetary Fund warned yesterday in a report in which it notes that the current banking crisis is the type that's most likely to lead to such a downturn, and suggesting Washington's proposed bailout of the banking system is the right course of action.