“Inflation rates that are too low are now just as much a risk for the economy as too high ones.”
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Mr. Tooze, on current occasion: How is the British economy doing three years after Brexit?
The situation is very serious. However, the problems in the British economy are not due to Brexit, but to the financial crisis of 2008. The financial sector was its most dynamic sector before the crisis, and it has not recovered since. The drama of Brexit lies in the fact that the stagnation is being continued. We have since witnessed the longest period of productivity stagnation in recent British economic history. Then there is the energy crisis, which is also hitting Great Britain hard. The forecasts of the Bank of England are therefore simply catastrophic.
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