Britain’s economic outlook is very gloomy
Are there any glimmers of hope?
As the festive season approaches, economic cheer is thin on the ground. Household incomes are being pummelled by soaring energy bills. Rising interest rates are squeezing mortgagors and throttling the government’s finances. Taxes are rising. The Office for Budget Responsibility (obr), a fiscal watchdog, is predicting the steepest drop in living standards on record. On November 22nd the oecd, a club of mostly rich countries, predicted that over the next two years only the Russian economy would fare worse among G20 countries. The Bank of England reckons the recession has already started. Could anything brighten the gloom?
This article appeared in the Britain section of the print edition under the headline “Looking up”
Britain November 26th 2022
- Why Britain is a world leader in offshore wind
- Britain’s economic outlook is very gloomy
- What do street names tell you about Britain?
- Scotland’s independence movement suffers a setback at the Supreme Court
- Wales’s trade in leeches and maggots
- British Bangladeshis are doing astonishingly well at school
- It is easier to imagine the end of the world than the end of Tory rule
From the November 26th 2022 edition
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