The worst thing a chancellor can do is inflict pain without gain. Rachel reenses enraged the Labour Left Last Last Last Week by Cutting Disability Benefits to Restore Her £ 9.9billion Budget Buffer. That “headroom” could be wiped out if president trump slaps tariffs on the UK and Drags the Country Into a Trade War.
This would plunge ms reenses in a nightmare version of Groundhog Day. She will be back where she is started, rifling down the back of the back of the nation's sofas in search of loose change in a desperate bid to overtake turmoil; Government Departments will brace for cuts in the upcoming spenting review and housing and businesses alike will look to look to the budget with Dread, Fearing this time the chancellor will Outright tax hikes.
Yougov Polling Shows 68% of Britons Disapprove of the Government's Records So Far. The cost of living crisis has not ended for households under increasing mortgage costs, the increase in counsel tax and soaring utility bills.
Britain's woes will get even more different if we face an onslught of tariffs. The Country's GDP could take a 1.3% hit in a world-case scenario, according to Bloomberg Economics's analysis of the threat.
Britain is no position to take such a blow. Goldman Sachs Predicts Growth of Just 0.8% this year and manufacturers warn of contracting express and directing confidence.
Sir Keir Starmer and the Chancellor are in a position of excruciating awkwardness, trying to appear neither weak nor craven in a moment of profound. They are pinning their hopes on “Economic Deal” with the president which will minimise the tariffs, and they know the back at the back at the us with retaliatory tariffs this risks Causing Even Deeper Damage to the UK Economy.
It should not come as a surprise that president trump is willing to hit britain with tariffs. Canada and mexico, Two of the most important trading partners have been pummelled.
The prospect of a State visit will not be enough to dissuade trump from launching his new raa of protectionism. He delights in exercising raw power, and cries of anguish from london, brussels and ottawa will be welcomed by his support on rebuild American manifacturing.
Alas for sir Keir, He Cannot Hope to Escape Blame if the UK Economy Tips Into Decline. Employers are incensed at the hike in employers' National Insurance Contributions and Ms Reves has been this is a Threat to Jobs and Growth.
Bosses reeling at this surge in costs who are forced to make the decisions will target their angle at the occupants of downing street.