Although Philip ‘Tigger’ Hammond hinted that more spending might be coming, austerity continues 10 years after the Big Crash and there are plenty of Eeyores around, telling him that there’s nothing to be happy about. My prediction? When/if (glass half empty/full) Brexit happens, a ‘fiscal stimulus’ will be applied to ease the pain and the purse strings will magically loosen. Then potholes will be filled and white lines repainted in the hope that we’ll all skip, smiling, into the Hundred Acre Wood of our independent future. Would you like honey or condensed milk with that?
“UK slips into recession as economy contracts 0.1% in December”
This week’s big economic and bad election news is that we are, or certainly have been, officially in a recession. You may not have thought you were, or you may have thought you have been for some time, as we and its effects are all different.