Losses reach $ 380 billion, a record in peak times

In the first ten months of the financial year Loss United Kingdom stock has reached 380 billion dollars, The highest level since the end of World War II: higher (higher) accounts of support measures initiated by London to counter negative economic Universal epidemic Which have taken away the core principles of the UK economy over the past year.

Not only this: Chancellor of the Treasury, Rishi Sunak, Is working to expand anti-Kovid measures that are nearing termination, such as subsidies for workers forced to leave during the epidemic. This is further pressure on the high deficit already accumulated by the United Kingdom.

With the epidemic, the UK deficit increases

Therefore, gray clouds continue to converge on the London skies. After all, 2020 was not a trivial year: tight negotiations with the first European Union Brexi, Which came hours after the final gong (causing a handshake between London and Brussels and the first impact is seen in macroeconomic figures), then a sudden flare-up of Kovid, from a local health crisis Global universal epidemic.

It is no coincidence, in fact, that the United Kingdom closed the month of January in deficit for the first time in the last ten years: passive, a $ 12.3 billion stake (Much less, however, than forecast on the eve), thus replacing the surplus that the United Kingdom usually collects at the beginning of the year with Christmas taxes receipts, with taxes paid by large British corporations and retailers. Is capable of.

For this reason, the sage craze has already thundered: Increase in taxes and cut public spending These are the two materials that, sooner or later, Downing Street must attract to prevent bleeding of accounts, should also consider 420 billion dollars London had to inject into the national economy to keep the British system running.

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Supportive measures are still important

On the other hand – big fans, but also economists – there is a decisive knit for cutting anti-Kovid support measures: a risky move that could end, according to the main players in the British economy, UP. Endangering Britain’s recovery After the fall of 2020, the negative peak of the last three hundred years.

To this end, the message launched by the Resolution Foundation last week still echoes: one in ten British workers expect Lose one’s job In the next three months. Very quickly, therefore, thinking about a U-turn in the approach of the epidemic, notwithstanding Record speed vaccination – well exceeded the 15 million mark – already suggests a solid rebound opportunity in the second half of the year.

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About the Author: Forrest Morton

Organizer. Zombie aficionado. Wannabe reader. Passionate writer. Twitter lover. Music scholar. Web expert.

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