6 articles
• via Sky News
In a rare moment of candour, Bank of England Governor Andrew Bailey has acknowledged that Brexit will inflict permanent damage on the UK's economic growth. This admission highlights years of institutional silence and the harsh realities facing Britain's economy post-Brexit.
• via LBC
Unemployment in the UK has risen to 4.8%, the highest level since 2021, marking four consecutive years of increasing joblessness under four different governments. Despite promises of economic growth and renewal, average earnings are failing to keep pace with inflation, leading to a decline in real wages and living standards. This trend highlights systemic issues within Britain's economic framework that transcend political leadership.
• via Sky News
The IMF forecasts Britain will have the second-strongest economic growth in the G7 this year. But it also predicts Britain will have the highest inflation and the weakest per-capita growth next year. This is not a contradiction. This is a symptom of deeper institutional problems.
• via The Guardian
While the UK government touts its economic prowess, the OECD paints a starkly different picture: Britain is set to endure the highest inflation in the G7 this year, with growth projections remaining sluggish. This report highlights the disconnect between political rhetoric and economic reality, revealing a nation grappling with self-inflicted economic challenges.
• via Sky News
The recent turmoil in the UK bond market is a stark reminder that the Bank of England's independence is a thing of the past. As the government grapples with rising borrowing costs and a faltering economy, the central bank's ability to act as a credible counterweight has been severely undermined.
• via The Guardian
The Bank of England's latest survey reveals UK businesses are cutting jobs at the fastest rate in four years, a direct consequence of Chancellor Rachel Reeves' £25bn employer National Insurance raid. Despite promises of economic growth, the government's policies are systematically destroying the productive capacity they claim to champion.