Reccesion.

[gulliver1]

The Uk is now officially in Recession says The Bank of England as it raises interest rates to 2.25%.... Is this another Legacy from Boris.

[royfromaus]

And what about where you live?

[naomi24]

No. Find out what’s happening in Europe.

[sunny-dave]

"And what about where you live? "

I believe that Hull is doing at least as badly as the rest of the UK, roy ...

[gulliver1]

No wonder Britain ain't got any money .
Boris gave it all away to his Cronies.

[Gromit]

Sunak, not Boris was in charge of our finances.
He didn’t notice when the US issued an Inflation Reduction bill earlier this year. The UK blundered on oblivious, and the result is the present economical mess.

[ToraToraTora]

Do you have a link? I cannot find anywhere that says we are in recession.

[douglas9401]

https://www.bbc.co.uk/news/business-62991376

[ToraToraTora]

Yes, were is the link that says we are in recession.

[Hazi-Hammenuhoth]

Ah, so its "may" be in recession. And Gully's solution to this (not that he can vote in our election but hey ho): Vote (wait for it) Labour! The irony.

[royfromaus]

I could have posted this 20 days ago
https://www.reuters.com/markets/europe/german-economy-likely-already-recession-will-last-three-quarters-2022-09-02/

Germany is nearer to Gully's home than the UK is?

[THECORBYLOON]

"The Bank now expects the UK economy to shrink between July and September. This comes after the economy already shrank slightly between April and June and will push the UK into recession, defined as when an economy shrinks for two consecutive quarters."

[douglas9401]

https://news.sky.com/story/cost-of-living-latest-bank-of-england-indicates-uk-already-in-recession-12615118

[FatticusInch]

From Sky News.

/While any action to keep a lid on the pace of price rises will be broadly welcomed by the
government, financial markets are likely to question not only the
speed of the Bank's tightening but also the Truss administration's approach to stimulating economic growth
through tax cuts and energy bill bailouts for households and
businesses.
Investors are worried about the levels of government borrowing ahead/

That decision not to implement the additional windfall tax and instead saddle taxpayers with it for a generation is gonna come back to haunt Truss.

[Old_Geezer]

I think any sane individual knows that if we have just barely dipped into recession then that is down to world events that no government has control over. Unless some individuals have already forgotten the recent pandemic and the ongoing Russian war.

[douglas9401]

Want to lump 9/11 and the Queen dying in there too?

[gulliver1]

Britains new Pm, elevated into office, without the voting public had better get her tin hat on with the mess Boris left the Country in. High energy prices,
strikes, a failing NHS , inflated food prices high petrol costs and now a recession. His cronies will get richer with the high interest rates on the taxpayers money he gave to them , whilst the poor will get poorer

[MargoTester]

^ never one to repeat himself.......boring

[weecalf]

Let get recession done Eh Boris

[10ClarionSt]

What I don't understand (I really don't) is how they come to an inflation figure of 9.9%. Prices for most things have risen by at least 25%, in some instances, items at the supermarket have increased by 100%. In the past week, the price of milk has risen by 50%. With the increase in energy prices, this will be passed on to the comsumer, me and thee, so actually, energy prices for us, the great unwashed, will be double, or thereabouts. Where are we going to get the money from to pay for this? The govt should be preventing these increases, not reacting to them.

[FatticusInch]

Old_Geezer
//I think any sane individual knows that if we have just barely dipped into recession then that is down to world events that no government has control over.//

But as I’d already pointed out the government could have eased the burden with the windfall tax.
Instead they put corporate greed above the needs of the many in austerity, but then you’d expect nothing less from a former Shell employee who also had £100,000 donated to her campaign by the wife of a former BP bosses wife.
It’s already clear where her priorities lie…..and it ain’t with the British public.