Vocal Voices

The UK economy has reduced for two consecutive quarters. That's a recession. It has only grown 0.1% over the year. This comes on top of two years of stagnation or near zero growth.

Meanwhile inflation remains at 4.0% overall. However, that's on a basket of goods and services we do not all use all of the time. The things we all use every day, energy and food, are up. Energy is up nearly 5% and food is at 8%. Then there are mortgages and rents.

It's grim everywhere, not just oop Norf.

I can't see it getting much better either.

Me neither don't need a government to tell us

It puts Bailey and Hunt in a Catch 22.

Interest rates control spending and that hurts GDP, but so does inflation.

Hunt wants to reduce spending, also hurting GDP, but wants to cut taxes giving us more to spend and that could fuel inflation.

Fuelled inflation could result in higher interest rates (or the present level maintained) and the carousel spins gain.

There is no easy way out of a recession but the least painful way has always been increased growth.

Labour may win the next election. They will want to help more with less at the expense of growth

Buckle up.