DECRYPTION – Brexit has dealt a blow to the attractiveness of the United Kingdom for investments. And that’s not the only concern.
Boris Johnson’s successor, appointed next Monday, will find a pile of files on his desk, each more urgent than the next. From economic conditions to social unrest, the UK faces a tense autumn, after already a “summer of discontent” punctuated by repeated strikes.
A situation that is reminiscent of that of the 1970s, with galloping inflation, social movements, sluggish growth and failing public services. “The UK looks more and more like an emerging economy,” dares Christopher Dembik, economist of Saxo Bank, in a note very noticed this summer, citing “political instability, Brexit and Covid-related trade disruptions, the energy crisis – with a real risk of a blackout this winter – and high inflation”.
1. Energy crisis and record inflation
The “cost of living crisis” weighs down British households a little more each month. Inflation, which already exceeded 10% in July, continues its race towards records…
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