Staggering stagnation
The British economy failed to grow at all during the last three months and is only 0.6% ahead of where it was this time last year. It is quite remarkable that it managed even this pathetic performance given the head winds it is battling against.
Not least a completely incompetent and uncaring government, where the main business of any day is the manoeuvring of those who want to be the next captain of the rapidly sinking Titanic.
The dangers of a recession are now very large but I expect the UK will continue to bounce along the bottom for at least another year, and a lot longer if the government doesn’t start doing something.
The last thing the UK needs are tax cuts; as the NIESR points out it needs investment, a lot of investment, or else we could face 10 years in the doldrums. But doubtless we will get some pathetic attempt at trickle down economics again, while taxes on ordinary people are set to soar.
Why would economic data which shows the huge scale of the problem again and again, make a difference to this government?
Economics, trade and Brexit, not necessarily in that order but the dog always comes first.
By Jonty Bloom Media