According to the Economist, the British middle-classes are increasingly feeling the impact of creeping austerity. My advice to them would be to ‘get used to it’, or ‘get out’. The economic consequences of Brexit will be savage for an already heavily indebted UK. Another Conservative Government after the next election will be forced to heavily ramp up austerity. Meanwhile, a Far Left Labour government will also meddle massively but very differently. Either way, the British middle classes are probably in for a prolonged and increasing period of pain. Thoughts?
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Britain faces an ‘explosive debt trajectory’ in the next 50 years if it ends austerity | 07/05/17 | Markets Insider
Market Insider reports that Britain could face an ‘explosive debt trajectory’ in the long-term if it does not deal with its budgetary issues and reduce the deficit in a well thought out manner, citing new research from the UK economics team at Bank of America Merrill Lynch.
Source: Britain faces an ‘explosive debt trajectory’ in the next 50 years if it ends austerity | 07/05/17 | Markets Insider
Here’s a stark reminder just how precarious is the state of UK finances and that’s before a Far Left Labour government and a hard Brexit.
The sensible way forward is to replace May quickly with a young tenacious leader, who will make his/her name as a radical reformer. The alternative is the UK quickly becomes a banana republic under Marxist leadership, until perhaps the IMF mounts a global rescue? Imagine the Harvard case study, asking the question, ‘Why didn’t cool heads prevail’?