The UK economy’s mixed report card for 2023 amplifies this year’s tension between what election politics is likely to deliver and what the economy needs to break out of a low-level growth/productivity equilibrium.
Compared with a year ago, the UK has put behind it the horrible risk of a big financial crisis that would have demolished its pension system and crippled the mortgage system. The country has more than halved its inflation rate from 10% last January to 3.9% and has finally seen real wages grow. With the weekend’s two-percentage-point cut in the main national insurance rate to 10%, benefiting 27 million people, the average family will realize £450 ($572) in annual savings. Meanwhile, mortgage rates and other borrowing costs have been coming down as markets expect the Bank of England to embark soon on a rate-cutting cycle.
"politic" - Google News
January 08, 2024 at 11:07PM
https://ift.tt/a7EjlqZ
The UK's Economic Outlook Is Riding on Election Politics - Bloomberg
"politic" - Google News
https://ift.tt/jdAQCBK
https://ift.tt/agmFKqe
/cloudfront-us-east-1.images.arcpublishing.com/bostonglobe/VNG7YMZTRWJ5WBFTJ5NVETPCQI.jpg)
No comments:
Post a Comment