UK businesses expect no growth over next three months
Sunak and Truss: it seems not to matter which of these becomes the next UK prime minister – neither will do anything to address coming surges in the cost of living.
Apparently it doesn’t matter who the next prime minister is going to be; the UK economy is still going down the toilet.
As a lay-person, this suggests to me that neither Liz Truss nor Rishi Sunak are promoting any policies that the experts – if I can call them that – at the CBI can recognise as being helpful.
British businesses do not expect any growth over the next three months, as a surging cost of living squeezes consumer demand, a monthly survey showed on Sunday.
The Bank of England has warned that Britain’s economy is likely to contract later this year, when a 40% jump in regulated energy tariffs hits consumers in October, and has forecast the economy will contract slightly next year.
Last week the International Monetary Fund forecast Britain would see the weakest growth of any major economy other than Russia next year.
Source: UK businesses expect zero growth over next 3 months – CBI
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