Your assessment of the economy already being fuck is correct, but for the wrong reasons. The bad economy was caused by needlessly prolonged lockdowns and several shitty U.S. economic policies. It's not as if the UK's economic situation is unique at the moment. China's economy is in freefall (Zero Covid Policy), the U.S. is barely hanging on (long term lockdown damage and pork barrel spending), Russia is (justifiably) being shuttered out of the world economy entirely, good lord I could go on. The entire world is in recession right now.
How about next time, don't fall asleep in history class.