UK economy caught between Brexit and a hard place

Now that his conservative party has actually won the UK election in a landslide success, victorious prime minister Boris Johnson can turn his attention and energy to the economy. And the next 5 years will be marked by the opposing impacts of his party’s policies, which on the advantage must boost growth due to significant spending guarantees, and Brexit, which on the disadvantage will hit the economy whatever the trade offer concluded with the European Union.

Where the pound.

GBPUSD, -1.0574%

Johnson has currently made clear his objective to provide on his promise to raise costs on the UK’s National Health Service – the nationwide, state-financed health care system that the UK, as a lot of other European countries, has understood considering that the end of World War 2.

The UK economy has actually suffered in the last year “partly” from the global slowdown and “importantly” from continuous Brexit uncertainties, according to the Bank of England That would lower the UK GDP over the next 10 years by 2.3 to 7 percentage points, according to the think tank UK In A Changing Europe.

Find Out More