Apparently, according to recent ONS data, the UK economy shrank unexpectedly by 0.3% in August. Its said to be due to a 'range of factors' including ‘the cost-of-living crisis, the war in Ukraine and inflation’, all of which existed before the ONS review.
However, I suggest that September’s data will be worse mostly due to the complete and utter over-reaction to Queen Elizabeth 2’s death and the 'generosity' of the Royal Family and the government in allowing an additional bank holiday for the funeral.
1 day in 30 actually equates to 3.3% downtime and this is funded entirely by millions of small entrepreneurs, other business owners and tax payers
No doubt this will also come as a complete surprise and be blamed not on our government’s mismanagement of the economy or the funeral but on again on the War in Ukraine.
Which is all the more surprising because Liz Truss was the Johnson administrations Foreign Secretary before the invasion by Russia and she was personally assured by Russian Foreign Minister Sergey Lavrov in Moscow on February 10, 2022 that Moscow has “no plans to invade Ukraine.”
It’s almost as if she doesn’t recognise danger and is thereby surprised when it arrives.
ps: I was right : the ONS confirmed a downturn of 1.3% in September and 'unexpected' factors were cited . Thankfully shes gone !