Another set of consumer confidence reports makes worrying reading for the Treasury. After Deloitte had the measure stalling this week the British Retail Consortium has downgraded its economic confidence rating from -27 in December to -34 in its latest monitor. That’s the lowest level since the monitor began in the first quarter of last year…
62% of those surveyed by Which also say the economy will get worse. Business figures and the commentariat alike are becoming increasingly impatient with Labour’s talk on growth. Lloyds Banking Group head Charlie Nunn says “the things they have talked about need to now be accelerated” while the US is set to grow faster and stronger than Europe. The bond traders are circling…
Speaking to Sky News off the back of Rachel Reeves’ Air Passenger Duty hike, Ryanair chief executive Michael O’Leary said:
“Labour is dependent on those Red Wall seats, and yet every move she makes poisons economic growth and damages the UK’s recovery… it’s the Chancellor who stumbles from policy misstep to policy misstep… I think her policy decisions are incredibly stupid.”