Although many industry experts were quick to welcome some of the smaller details in the Chancellor’s ‘budget that was not a budget’ last week, it seems that the wider and longer-lasting impact is still only starting to be felt by individuals and businesses alike.
With an unprecedented intervention by the Bank of England (which Liz Truss has blamed on Putin) and the unheard of removal of almost a thousand mortgage products from the market due to widespread panic and uncertainty amongst lenders (which Liz Truss has blamed on Putin) it seems that any business needing to borrow is going face far higher costs. This includes government borrowing. So that affects us all.
We would like to offer an incisive and detailed response to what’s going on with the economy, but the truth is that so many usually pro-government figures and experts are convinced we’re all facing years of downturn thanks to Mr Kwarteng’s ‘fiscal event’ that wasn’t a budget that it would be wrong of us to add to the carnage.
But we would like to wish all our readers the very best in fighting your way through the mess we’re currently in.