You really don’t need me to comment on news that we’re now ‘technically’ in recession. Our Great British, collective common sense should tell us that it was inevitable, given that everything except Waitrose and the internet shut down too late and for 3 months. What next? That same common sense will tell you that there’ll be lots of job losses, but everything may revive more quickly than expected; that taxes may need to go up, but everything may revive more quickly than expected. Etc. Your investments, however, though they will always go down as well as up, are still likely to earn you a lot more than your bank account at the moment. If you hang on in there. In the words of the world’s richest investment guru, Warren Buffett: ‘When’s the right time to invest? When you have money to invest!”
“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.