Batten down the hatches because 2017 is not looking good economically | Tax Research UK

Get your savings into the piggy bank because they’ll be safer there than trying to work in a UK economy under Tory mismanagement!

Here are just a few headlines from this worrying article, to add to your Winter chills:

Trump’s in town and he’s talking tariff wars, a reduction in US military spending overseas, tax wars and a real shift away from areas where investment is really required, like green technology. He also hates foreign cars and we sell the US quite a lot of cars. All of this has real and serious spillover effects for the UK. Trump is not good news for the UK economy. Demand for our goods and services will be down.

We’re still suffering austerity. Just in case you’ve forgotten, the government is still trying to do the opposite of what is needed when the economy is under-performing and facing systemic risks and is trying to cut its spending. That’s the last thing we’ll need, but it’s what we’ll get.

There are signs of stress all over the place. Whether it’s the NHS, social care, other government systems at their limit before Brexit begins, or an overheated FTSE that has a habit of correcting quite radically when the time to do so comes, or consumer debt that could go bad, there are ample signs of things that could break in the UK economy right now and trigger a major lack of confidence. I will be candid and say I have no idea what will break: no one is clairvoyant, but break it may well do.

The government is clueless: Around the world there is a crisis of confidence in government. That’s why we have Trump. That’s why we have Brexit. But dealing with the UK alone, sometime in 2017 a lot of people are going to realise that the government cannot deliver an easy of smooth Brexit, let alone one without considerable cost. That is not apparent to most people as yet. As the realisation that they have been sold a bad idea grows so will disillusionment with government, and that will hit spending hard as people pile on the savings.

Source: Tax Research UK » 2017 is not looking good economically

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2 thoughts on “Batten down the hatches because 2017 is not looking good economically | Tax Research UK

  1. Barry Davies

    The idea that we had been sold a bad idea was what lead the majority to decide to leave the eu, the same people who are complaining the fuse is becoming overheated are the ones who said the exact opposite would happen, It us noticable that all the problems in public health provision have been growing whilst in the eu, so to pretend it is saving it is clearly wrong.

    1. Mike Sivier Post author

      Our problems with public health provision have nothing to do with being in the EU, and everything to do with underfunding and poor planning by the Conservative government, right here in the UK.
      I don’t understand what you’re saying about an overheated fuse – the economy is heading over a cliff, which is exactly what Remain voters foretold.

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