- Boris Johnson’s aspirations for an economic “reset” appear bleak in the face of mounting concerns over pay and living costs.
- inflation is skyrocketing, the economy is sinking to the bottom of the global league tables, and summer of strike action is on the horizon.
- To repair a tarnished political reputation and avert a recession, the prime leader is thought to be planning a major economic reset speech soon.
Inflation is skyrocketing, the economy is sinking to the bottom of the global league tables, and summer of strike action is on the horizon. The economic background could hardly be worse for Boris Johnson as he attempts to reset the political agenda.
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The administration will confront more unsettling news this week, with official numbers on Monday anticipated indicating the economy nearly stalled in April as families struggled with a record jump in energy expenses. Fresh statistics on Tuesday will almost certainly confirm that wages have failed to keep pace with inflation, while the Bank of England is anticipated to hike interest rates to tighten the screws on family and business borrowing.
To repair a tarnished political reputation and avert a recession, the prime leader is thought to be planning a major economic reset speech soon. However, Johnson confronts an additional burden in the form of a strike that could turn into a summer of unrest.
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Pay disputes are unavoidable in the face of excessive inflation, deteriorating living standards, and significant labor shortages in some areas. Rail employees plan three days of national strikes this month, the largest walkout since 1989, as unions demand a fair pay contract and job-cut protections.
