Britain at risk
WHO is leading the country at this moment of acute economic, political and social peril? Everyone?
The Bank of England is now warning of an apocalyptic recession lasting a year and a half, with inflation at 13 percent and energy bills tripling.
It will be a shock millions have never experienced. But no one is around to help. Nobody is at the helm.
Boris Johnson, ousted from office at the worst possible time, sits on a sun lounger.
His successor is nearly five weeks away from taking office — and the contest between Rishi Sunak and Liz Truss looks blind to the monstrous scale and urgency of the nation’s problems.
Even Labor is AWOL. Keir Starmer is on vacation. His subordinates have no constructive thought between them.
We should take some comfort from the bank’s belated hike in interest rates to control rampant inflation.
But it was serially incompetent.
The sun was among many warnings over the past year of rising inflation, the predictable aftermath of two years of wasteful Covid bailouts.
Why didn’t the bank, which was only tasked with capping it at 2 percent, raise rates at the time?
She cannot simply blame Putin’s war. At that time, inflation was already at almost six percent.
It is the bank’s ruthless complacency that has proved ruinous.
It wouldn’t be so bad if a public body watched out for us all against predatory oil giants.
That is the role of Ofgem. Instead, this extraordinarily useless industry watchdog decides to raise the price cap twice as often, wreaking havoc every three months.
Whose side is it on? Customers? Or oil giants and utilities?
We’re in for one hell of a winter even before we consider the state of the NHS. who will help
While Rishi and Liz bicker over who is most likely to bring about a recession that we now know is inevitable, companies like Shell and BP are fooling us by giving employees bonuses for “success” to Putins to concede carnage.
We are in a full-blown crisis. The nation is desperate with unpayable bills and political chaos.
It’s angry too. Some even warn of social unrest. Ministers must not underestimate the mood.
We don’t have weeks or months. We now need an emergency budget with new measures to protect millions from hardship.
Speaking of toothless watchdogs, when will Ofwat crack down on water companies?
It wants leaks to be cut in half. . . by 2050. What’s the use? Millions of liters a day are wasted NOW while half the country faces drought restrictions.
A quarter of suppliers are not meeting leak reduction targets. Will anyone be held accountable? no Executives get amazing salaries with bonuses instead.
rot has set in.
https://www.the-sun.com/news/5932792/britain-financial-crisis-emergency-budget/ The UK is in a full blown financial crisis – we need an emergency budget NOW