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Updated 09:40 26/10/20

The British economy is grinding to a halt

By Duncan Richardson, News Editor

06 May 2016

I am afraid to be a bearer of bad news, but the UK economy is starting to tank. The growth generated post Lehman via endless rounds of quantitative easing is now flat lining. Certain sectors and business are now suffering as unemployment rises.

Bad decisions were made following the 2008 crash and we are now starting to feel the consequences. Demand, exports and investment is slowing and it feels like we are leaving the eye of the storm.

The purchasing manager index, the most reliable non-government data is pointing to a slowdown while business leaders across the country are suggesting we have already stumbled into the next recession.

Policy makers in Westminster can blame the slowdown on Brexit, but the real answers can be found elsewhere. Manufacturing has been slowing for a while and now export demand is grinding to a halt. Consumers are reigning in their spending and for an economy built on debt and consumerism this is extremely dangerous.

The next recession could be worse then 2008, because debts levels are so much higher and policymakers have very little ammunition left.

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