GROWTH CRISIS: : The UK could be facing recession in the eyes as state policy stands in the way of growth
By Thobile Jiwulane
UK flag (Image: Facebook)
The UK economy is facing recession risks, with today’s Spring Statement confirming what many had feared: conditions are worsening, and government policy is making it harder, not easier, to grow. This is the assessment of Nigel Green, CEO of financial advisory giant, deVere Group, following Chancellor Rachel Reeves’ Spring Statement on Wednesday, which put spending cuts at the heart of the government’s agenda.
This as rising taxes, increased employment costs, and added regulatory obligations are all landing at once, threatening to choke off business investment and hiring. Despite repeated claims of a pro-enterprise agenda, the policy direction from the government is undermining confidence and dragging the country toward a slowdown.
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