Here’s one we haven’t heard before from a chancellor. Rishi says he has ‘a sacred responsibility’ to balance the books. That’s almost a sworn commitment, so should we be afraid – be very afraid? One politician’s ‘balancing of the books’ is, of course, another’s ‘that doesn’t count as debt because it’s an investment for our future’. And in the last 50 years, we’ve had a new chancellor, on average, every two and a half years. So, I think, at most, be apprehensive- be just a little apprehensive.
“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.