Half-witted experts are claiming that inflation will fall and the economy will recover because of the UK Government’s cap on energy prices.
I think that is utter bollocks.
Inflation is here to stay and interest rates are going to continue heading upwards. This rise will bring house prices down and a lot of people with mortgages will be `under water’. (They will owe more than their properties are worth.)
We are heading for stagflation (a recession with inflation).
Already, the pound is falling at an unprecedented rate. As a result everything we buy in the UK (oil, gas, food, metals) will be more expensive.
Truss’s crazy energy subsidies will cost at least £150 billion a year for years. It could be a great deal more.
That is around £2,500 a year for every man, woman, child and baby in the UK – whether employed, sick, unemployed, in hospital or in a pram.
And how is the Government going to pay for that?
I’ll tell you.
Services are going to be reduced.
There will be new fees for everything.
And taxes will go up.
You and I are going to pay for the Government’s spend, spend, spend problem.
The UK’s financial problems are going to get worse – not better.
And remember: nothing is happening by accident.
Vernon Coleman’s book Moneypower is available as a paperback and an eBook.