Today: Monday, 28 November 2022 year

Political uncertainty could lead to a recession in the UK

Political uncertainty could lead to a recession in the UK

The political uncertainty caused by British Prime Minister Boris Johnson could lead to an economic recession in the country. Such a future for the United Kingdom was predicted by the head of the Confederation of British Industry, Tony Dunker

 

“We need (…) the Prime Minister [Boris Johnson] and the Treasury Secretary [Rishi Sunak] to engage the whole government in solving problems, chair cabinet meetings together and make important decisions quickly, without waiting for the approval of the draft budget,” Dunker said.


According to the expert, if the British authorities do not begin to take active steps to support the economy, then in the future this may undermine the confidence of entrepreneurs and provoke a recession in the country.


Dunker stressed that measures aimed at supporting businesses and ensuring a favorable investment climate will help stabilize the economic situation in the UK against the backdrop of a sharp rise in prices for electricity, fuel and food, as well as for other types of goods and services.


Earlier it was reported that Johnson began to lose popularity among fellow party members and supporters of the conservatives after the parliamentary report on the “pathygate” – illegal parties during the pandemic. In addition, the Prime Minister of Great Britain took the last place in the rating of trust in ministers who are part of the current government.


Shortly thereafter, a vote was held on the issue of a vote of no confidence in the head of the British government. Nevertheless, according to the results of the vote, Johnson retained the post of prime minister of the country.