For decades it has tracked GDP, assuming it continues to, the we are in for a recession more severe than anything seen since the 1970’s.
But just *imagine* how much worse it’d be under Corbyn with the extra 5% tax for those on 6 figure salaries and the millions of trees planted and free bus travel for under 25s…
Truly the stuff of dystopian nightmares.
Brexit Britain : Back to the 70s
It’s at minus 40. That’s not just “the lowest level since 1974” in the sense that it was as bad as that in 1974 – it’s the lowest level ever recorded in a series that *started* in 1974!
The current level is lower than it was throughout the 70s, 80s and 90s. It’s worse than it was at the worst point of the 2008 disaster (minus 39) and worse than it was at the worst point of the 2020 Covid crisis (minus 36).
Trying to deal with all of the external shit while *also* being hobbled by Brexit is more than the country can handle.
People are barely able to afford the basics right now, with a quarter of the country supposedly skipping meals on a regular basis, of course confidence is going to be at record lows. The government have voted to not go ahead with an emergency budget and are doing nothing to help those struggling on top of that. The last thing people are going to be doing right now is going on spending sprees.
1974: marked by the Three Day Week. When Edward Heath enforced a three day working week on people with rolling blackouts. Enoch Powell resigned over Heath’s Entry into Europe and the OPEC Energy Crisis rolls on. The National Front gain 10% of the vote in London as the Tory schism widens. As the National Front offer to stand behind Enoch Powell as a candidate, he returns to the Tory Party along with an influx of hard right extremists who begin taking over the Party. The Secondary Banking Crisis of 1973–1975, triggered by Tory economic incompetence, and inability to manage the Rental Sector, caused a housing crash and the bail out of thirty banks. Inflation reaches 17.2% and the Heath Government collapse. Five years later, every single failure of Heath is attributed to Labour.
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For decades it has tracked GDP, assuming it continues to, the we are in for a recession more severe than anything seen since the 1970’s.
But just *imagine* how much worse it’d be under Corbyn with the extra 5% tax for those on 6 figure salaries and the millions of trees planted and free bus travel for under 25s…
Truly the stuff of dystopian nightmares.
Brexit Britain : Back to the 70s
It’s at minus 40. That’s not just “the lowest level since 1974” in the sense that it was as bad as that in 1974 – it’s the lowest level ever recorded in a series that *started* in 1974!
The current level is lower than it was throughout the 70s, 80s and 90s. It’s worse than it was at the worst point of the 2008 disaster (minus 39) and worse than it was at the worst point of the 2020 Covid crisis (minus 36).
Trying to deal with all of the external shit while *also* being hobbled by Brexit is more than the country can handle.
People are barely able to afford the basics right now, with a quarter of the country supposedly skipping meals on a regular basis, of course confidence is going to be at record lows. The government have voted to not go ahead with an emergency budget and are doing nothing to help those struggling on top of that. The last thing people are going to be doing right now is going on spending sprees.
1974: marked by the Three Day Week. When Edward Heath enforced a three day working week on people with rolling blackouts. Enoch Powell resigned over Heath’s Entry into Europe and the OPEC Energy Crisis rolls on. The National Front gain 10% of the vote in London as the Tory schism widens. As the National Front offer to stand behind Enoch Powell as a candidate, he returns to the Tory Party along with an influx of hard right extremists who begin taking over the Party. The Secondary Banking Crisis of 1973–1975, triggered by Tory economic incompetence, and inability to manage the Rental Sector, caused a housing crash and the bail out of thirty banks. Inflation reaches 17.2% and the Heath Government collapse. Five years later, every single failure of Heath is attributed to Labour.
We have been in 1974 for some years now.
Back to the 70s just like the brexit crowd wanted