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United Kingdom

Dworkin

(164 posts)

2. Economic crisis

Reply to Soph0571 (Original post)

Fri Apr 17, 2020, 05:55 AM

Apr 2020

Folks,

A combination of coming through the Covid crisis and Brexit will put heavy strain on the UK economy. We still have a massive national debt, up from £750 billion to £2 trillion since the Tories have been in power.

The argument for more borrowing is low interest rates, but as soon as this changes inflation will follow. Yes, we can devalue the £ but we could have done that anyway as we are outside the Euro. Devaluation automatically leads to inflation on import prices.

Is this a 'double whammy' situation?

D.

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Highlight:

No 10 claims coronavirus crisis strengthens need for UK to be free of EU regulation after 2020 [View all] Soph0571 Apr 2020 OP

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And it's not just any old pundit suggesting the extension - it's the IMF muriel_volestrangler Apr 2020 #3