Bad, bad Bailey
It happened and Tinkerbell Truss was right, naughty Andrew Bailey mentioned the word recession and now the economy is shrinking. Only by 0.1% it is true but six months ahead of the Governor’s prediction, which is rather worrying.
The fact that Liz Truss has her hands over her eyes and therefore can’t see anything bad doesn’t mean it isn’t happening.
Higher energy costs suck money out of the economy and into the pockets of the energy giants. Every one is hunkering down for those household bills which are going to reach £4,000 on average, vast numbers of people will be unable to pay, even if they stop spending on almost everything else.
The answer is to tax excess and unearned profits and give the money to the poor, cutting NI isn’t going to touch the sides.
Or you can put your fingers in your ears and shout “la, la, la” until it goes away.
One is Prime ministerial and one isn’t.
You choose.
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.