UK in the grip of the crisis: after Brexit, war and inflation. What is going on

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After the severe blow to the British economy by the Brexitthe winds of economic crisis expire on United Kingdomas in much of the world, due to phenomena such as the dear energyto which the repercussions of the war in Ukraine and sanctions

WATCH THE VIDEO: Cost of living, in the UK inflation exceeds 9%

epa09885898 Tourists sit in front of the Elizabeth Tower on on the Houses of Parliament in London, Britain, 12 April 2022. The iconic clocktower has its? scaffolding removed after a five-year 79.7-million-pound reconstruction process. EPA / NEIL HALL

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According to a survey by the Gfk companyreports the Sole24Orethe British consumer confidence in May it collapsed at lowest level never registered, tapping -40 points. It is also lower than in the 2008 crisis, when it dropped to -39

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Black Friday for international markets after the victory of Brexit that will take Great Britain out of the European Union. Symbolic photo of Sterling banknotes (160623) - LONDON, June 23, 2016 () - A trade assistant works at a currency exchange shop in London, Britain, on June 23, 2016. (Xinhua / Han Yan) (LONDON - 2016 -06-24, PHOTOSHOT) ps the photo can be used in compliance with the context in which it was taken, and without the defamatory intent of the decorum of the people represented

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In April, the British National Statistical Institute said i prices went up by 9% against + 7% in March, the largest increase for over 40 years due to the surge in energy. The increase in costs is also driving inflation food and transport

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File photo dated 20/9/2019 of the Bank of England, in the City of London, which has announced that it has cut its main interest rate to 0.25% from 0.75%.

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The prediction of the Bank of England (BoE) is that inflation exceeds 10% in the autumn, due to the increase in the prices of raw materials and energy that followed the crisis in Ukraine

Queen Elizabeth appears in public at an event for her Platinum Jubilee. PHOTO

FLAME ON THE GAS COOKING STOVE (MILAN - 2003-11-07, Mimmo Carulli) ps the photo can be used in compliance with the context in which it was taken, and without the defamatory intent of the decorum of the people represented

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Furthermore Ofgemthe regulator of energy prices, has decided to remove the roof imposed on electricity and gas. The move pushed bill costs up 54% in April and a further increase of 40% is expected in October

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The Governor of the Bank of England, Mark Carney, and Andrew Bailey, Governor-Designate, at a press conference at the Bank after the announcement that it has cut its main interest rate to 0.25% from 0.75%.

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The cost of products food is increased by 6% in April and is at its highest in ten years, also due to the Brexit effect. The governor of the BoEAndrew Bailey, said the UK needs to prepare for potential “apocalyptic” rise prices on the food market

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This is why the next few months are shaping up rather “tough” for the UK struggling with inflation at its highest for over 40 years and expensive energy affecting millions of people, but the UK government intends to do everything possible to improve the situation

Chancellor of the Exchequer Rishi Sunak and SNP Westminster leader Ian Blackford arriving for a Service of Thanksgiving for the life of the Duke of Edinburgh, at Westminster Abbey in London. Picture date: Tuesday March 29, 2022.

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To affirm it is Rishi SunakMinister of the Treasury, arguing that “you can’t pretend” to find quick solutions to alleviate the expensive life and the consequences on families

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“There is no measure that any government can take – underlines Sunak – capable of making the forces operating at global level disappear overnight”. The minister is expected to ask companies to increase investments and training to grow the economy, committing, in turn, to cut corporate taxes

A F35 Lightning II sits on the deck of HMS Queen Elizabeth in Rosyth Dockyard, Fife, as the Queen will formally name the Royal Navy's biggest ever ship, with whiskey replacing the more traditional champagne at the ceremony.

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The specter of recession, ventilated on the island since 2023, could prove inevitable. The National Institute of Economic & Social Research (Niesr), reports the Sunexpects the recession to hit already by the end of 2022

Source-tg24.sky.it

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