New Times,
New Thinking.

  1. Comment
20 May 2022

The UK is sleepwalking into recession

Tory MPs are berating the Bank of England to distract from Brexit and other economic calamities.

By David Blanchflower

The cost-of living crisis continues to worsen with no end in sight. The Chancellor, Rishi Sunak, decided now was a good time to raise National Insurance, cut benefits and increase the cost of energy even after the discovery of his wife’s “non-dom” status and his receipt of a fixed-penalty notice for breaking lockdown rules. 

All of this as the cost of Brexit becomes ever more apparent. I am still waiting to see any economic benefit; the only issue is how great the cost will be. For the UK, being outside a free-trade area looking in is a very bad place to be. 

Subscribe to The New Statesman today from only £8.99 per month
Content from our partners
More than a landlord: A future of opportunity
Towards an NHS fit for the future
How drones can revolutionise UK public services
Topics in this article : ,