U.K. economy - how fucked is it?

I’m not sure if this is the right sub to post this in (apologies if that’s the case!), but is the U.K. economy fucked?

From what I keep seeing, yes it is fucked.

And yes, I know newspapers love to do a bit of scaremongering, and it’s also broadly out of our control anyway, and all we really can try and do is have some savings set aside to make ourselves as financially secure as possible if the shit does hit the fan - e.g. an emergency fund to last at least a couple of months if possible- but it doesn’t look good.

Can anyone who’s qualified in this sort of stuff explain to me like I’m 5 how bad it really is?