Economics

UK economy failed to grow for a second month in a row which was unexpected with most predicting growth. The economy appears to be flat-lining whilst the chancellor plans to significantly increase taxes in the upcoming autumn budget which the PM has forewarned will be "Painful". I struggle to see how growth will occur in a higher tax environment that will particularly hurt the middle classes. Stagflation and more austerity seems to be on the menu for the UK.

UK economy failed to grow for a second month in a row which was unexpected with most predicting growth. The economy appears to be flat-lining whilst the chancellor plans to significantly increase taxes in the upcoming autumn budget which the PM has forewarned will be "Painful". I struggle to see how growth will occur in a higher tax environment that will particularly hurt the middle classes. Stagflation and more austerity seems to be on the menu for the UK. 

https://www.theguardian.com/business/article/2024/sep/11/uk-economy-unexpectedly-flatlines-for-second-month-in-row

https://www.independent.co.uk/news/uk/politics/labour-tax-rises-plans-inheritance-pension-b2602301.html