Recession - an unavoidable fact of life if we get railroaded into a no-deal Brexit.
Tuesday 13th August 2019
There is much that is unknown about what's going to happen with the future of the UK as far as Brexit is concerned, and it seems everyone has their own theory, albeit that some are quite clearly bonkers!!
But there is one thing that I am 100% certain about and that is that should we be railroaded into a no-deal Brexit there will be a recession, and this is something that must be avoided at all costs. Whatever the price, it must be paid, because the alternative will (once again) smash our economy for a decade or more.
We're half way through Q3 and if things keep going as they did last quarter it's recession on!! And if anyone hasn't noticed the High Street is getting massacred out there, with weekly closures, insolvencies, desperate attempts to renegotiate rents, and pleas to Government for business rate relief.
To be honest avoiding recession is going to be a big ask already, let alone if we tumble out of the EU on the third time of trying, with no deal to cushion our fall, while a trade deal is stitched together. And when you're in recession chucking money about like some of the promises that I'm hearing ain't going to be so easy either.
But it's not all bad news. Since as I've been saying for ages, unlike the bone-heads of the ERG, Boris is no fool. And despite what he's telling the EU, he will not allow a no-deal because he knows that his future relies on things working out, and a recession spells curtains for Bojo's residence in Number 10.