The Organization for Economic Development and Cooperation has warned Britain Government that there is likelihood that their economy could witness recession next year.

European crisis is griping the world and that would become the reason for Britain to get stricken by another recession next year. It is one of the first kinds of report which has put forth shocking news for David Cameron, who is making each and every possible method to make his country safe from recession.

Cameron has also promised his countrymen that he would not let recession hit their economy, but it seems he now has to look for preventive measures. Experts were of the view that recession would hit Britain in the starting of 2012 and would continue till half of the year, turning every investment negative.

It has been found that the Organization for Economic Development and Cooperation experts have given some valuable advices to the treasury department. They have asked them to think of an alternative plans by which they could bring a cut in public spending.

Britain would adopt that every method which could keep it protected from recession and if there would be one then it would not be a major one, said Cameron.

Not only it would take Britain in its cover, but it has been reported Greece, Italy, Spain, Portugal and many more countries would be taken under the wrap of another recession. These countries have already been affected by economic crisis and another one would make their condition pathetic.

Chancellor George Osborne said it would be very difficult for the nation as tax rates are going to increase by next week and it would be included in their mini-budget.

This decision of tax hike was taken when the Coalition was of the view that bankers are highest earners so they should come forth to share the burden of national debt. This would be done when they have to pay the maximum.