Recession Fears for Rachel Reeves?

Rachel Reeves has announced that the pension review is on hold indefinitely. She says it is to avoid putting extra pressure on businesses, which is technically true but not the whole truth about why she's doing it. But the data I get on my channel gives me a bit of an insight into what the Treasury fears will happen in the next few months.

Join this channel to get access to perks:

[bradw]

I'd say the fact Black Friday seemed to last for a month is a good indicator of how poor retail is right now.

[epincion]

The problems Labour face is that:
1) Reeves has found that the financial hole in government finances is much worse than the Tories admitted
2) The degradation in all public services is much worse than the Tories admitted and in a real way they did not bother because the Tories voter base is the 25% of the population for whom the UK ‘works’ and they have the money to supplement state services with private alternatives. Such as in healthcare and in education.

The howls of protest in the media at measures to make Britain fairer for all are coming from the 25% of haves who do not like losing their unearned privilege.

3) lastly and most importantly, until Labour stop pretending that Brexit was a good thing and admit it was/is a monumental disaster economically and diplomatically then they will simply be dIgging the grave of Labour.
The huge elephant in the room is that the consequences of Brexit are killing the UK economy (GB really and not NI) and can only be mitigated by relinking with the EU (that’s not rejoining the EU which is a generational matter) by signing the urgently needed myriads of agreements of mutual equivalence of standards (MEA’s) such as a Veterinary deal. That will mean the UK becomes a rule taker but the UK has no choice if it is to save its economy from a steady inexorable decline.
But Starmer appears to be just as blind as was Corbyn on this matter thinking that the UK is an ‘equal’ of the big beasts in the world trade jungle- the US, China and the EU and can negotiate trade deals where the UK has a say in the rules.

[DylanSargesson]

As Sir Humphrey said, there are "two basic rules of government: Never look into anything you don't have to. And never set up an enquiry unless you know in advance what its findings will be."

[prendersmack]

What I would I would like to know is: why is it so difficult for people to believe that the Tories left a £22 billion black hole in the public finances? The Tories have been nothing short of reckless for 14 years, so this blackhole ought not be surprising!

[RecycledBikes-jj]

I've been telling anybody that listens that we are much deeper in the shite than anybody admits...

[ParcelOfRogue]

Phil, I agree. My own small firm's sales of electronic to musicians have been very poor in the past quarter. There's no money out there and it's also poor in some overseas countries also.

[hypsyzygy]

We were told things will be tough, and we voted for Labour knowing and accepting that.

[twocvbloke]

Given we've had 5 years of everything being overly expensive in terms of bills, rents, mortgages, food prices, etc., it's no surprise things have hit hard, the tories dropped a nuke on the economy, and now we're suffering with the radioactive fallout from it, there needs to be incentives to spend, and they need to look at the banking crisis era, **drop the VAT again** to get people seeing lower prices and spending!!!

[Jonnyonthespot]

If you elected me and gave me unlimited budget and I made all the best possible choices you wouldn't see any changes for at least two years if not four. Budgeting, hiring, training and then having those workers working takes time in the best of circumstances.

This is all the Conservatives fault until at least 2026 when Labour's work will start to begin to show the fruit of their work.

[NathanChick-nq]

Considering the public have the right to vote its weird that kids aren't required to understand economics or media and how it influences people.


That's like the army not telling recruits how to use a gun or a doctor not being taught human physiology.

Even if someone is on a jury the court would need to explain the forensic science aspect in a way to ensure the jury understand to make an informed decision.


Yet when it comes to voting that requirement to give the public clear understanding just isn't there and that's truly how to undermine democracy through poor education on the system.

[shadowside]

Our big local shopping centre was busy yesterday, but not the usual 'mobbed' in the penultimate weekend before Xmas. Worrying.

[georgeatkinson]

On the UK economy...refloating the Titanic was always going to take a while; the fact that it's back was broken by Brexit on the way down adds to the challenge...

[Lynnpjjbdndji]

A ression was forecast for Jan Feb Mar... Over 10 months ago in conservatives forcast !!!!

[MichaelSmith-nsow]

Most of the rut in spending in December and the upcoming winter months is due to Electricity and Gas increases.
Real wage rises are needed. Simple as that.

[zeb]

Until and unless we rejoin the EU in some form we will NEVER get to anywhere near the levels we were. It's really easy to see this. Labour needs to get their finger out

[derekmulready]

Contributory pensions in benefits even with the latest increase in Britain are still the lowest in Europe. Never mind the EU..
🇮🇪🇪🇺

[simoningate]

Increased purchases at the end of the year is termed the hockey stick effect - peoples budgets get spent (use it or lose it in corporations at least).

[THG_]

Need to redistribute. There's no lack of money; it's just concentrated at the top.

[distinctdipole]

An increase in employee contributions? Well, that'll be more people queueing at foodbanks. Most workers are squeezed to breaking point as it is. And salaries won't go up to cover the additional cost because employer contributions go up too. What a mess!

[richardc]

There may be a bit of a Trump effect too. His threats of a tariff war can't be helping business confidence much, here or in the US.