THE TELEGRAPH: The demise of cars, flights and cafes are just the start of Britain’s slump towards full-blown recession
The car manufacturing giant Stellantis is closing a factory. EasyJet is slashing the number of flights around the UK. Even the chairman of Gail’s has said that some of his businesses may have to close. If you want to buy a new car or take a Christmas break, it is about to get a lot harder.
In reality, there is a common theme to all those stories: they are all part of Chancellor Rachel Reeves’s shrinking economy. And from retail chains to pubs and restaurant groups it is going to get a lot worse over the next few months.
For anyone who was expecting the UK to be emerging as the “fastest-growing economy in the G7” by now, as the Labour Party promised during the election campaign, it has turned into a sobering week. » | Matthew Lynn | Saturday, November 30, 2024
