As Johnson’s government sows dissent, opposition leader Jeremy Corbyn is trying to sell a package of pledges that would make a Labour government one of the most socialist the country has seen. Among the party’s proposals is re-nationalizing some of the industries Thatcher sold to private owners, raising taxes and curbing bank bonuses.
For all that, the economy continues to defy predictions of a recession. Official figures Monday showed that gross domestic product expanded in July at the fastest pace in six months, though it was flat on a quarterly view.
It’s cold comfort. Bloomberg Economics’ Jamie Rush says that while Britain may have skirted a technical recession, the bigger risk is a slump later this year, with a no-deal Brexit coming on top of weak underlying momentum.
This article provided by Bloomberg News.