The UK economy is in deep trouble. The country is facing arguably the worst cost-of-living crisis since the early 1980s, with inflation at a 40-year high and consumer confidence at its lowest level since 1974. Pressure is mounting on the government to support the poorest, who are facing huge rises in energy and food bills just as new tax rises and welfare cuts kick in.
But the government continues to recite the mantra that there is no “magic money tree”. The latest plan is to cut 91,000 civil service jobs to fund tax cuts, a policy that would likely put many people out of work and thus reduce consumer spending just when it is most needed.
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