Saturday, September 03, 2022

Michael Lambert: Could the UK Economy Collapse?

Sep 3, 2022 The UK economy could collapse very soon if urgent measures are not taken. Climate change, clearly the biggest threat which mankind has ever faced is causing massive disruption of food supplies as a result of drought and flooding.

Vladimir Putin's crazy and irrational behaviour threatens us all, including his own economy. The UK has been ruled by a dishonest, incompetent and self-obsessed prime minister and a second-rate government and has presided over an extensive decline in standards.

Brexit has so weakened the UK economy that we are forecast to be the 19th slowest-growing economy in the G20 next year.

The new prime minister, who is expected to be Liz Truss, has given no indication of how she will solve any of our problems other than by cutting taxes.

Electricity prices have risen so much that many householders will be unable to pay. Businesses which are not protected by any price cap are seeing electricity prices increasing so much that many will simply be forced to close.

The stress of being unable to cope with the rising cost of living is likely to lead to mental health problems for many. Others are likely to resort to crime in order to survive and, given the extremely low possibility of ever being apprehended, may well be seen as the only solution for many to survive.