Analysis: The new British prime minister inherits a poisoned chalice | Rob Harris
The United Kingdom’s ruling Conservative Party, which came to power 12 years ago on a promise to fix a “Broken Britain”, has eaten up and spat out three prime ministers and now presents the next an unenviable poisoned chalice.It is hard to see what tricks are left up their sleeves.
At 10.1 per cent in July, Britain had the highest rate of annual inflation among Group of Seven advanced economies. Forecasters expect inflation to climb higher with Goldman Sachs saying it could top 20 per cent if gas prices do not fall. Nearly one in 10 tenant households in England will fall behind on rent this financial year, one think-tank predicted last week. That’s about 407,000 families who will be at risk of homelessness, more than the number that fell into arrears during the first year of the pandemic.
The foreign secretary said the rise in energy bills did not have to mean “Armageddon” and vowed there will be no rationing of power. The priority will be keeping the lights on at home, but experts have warned there is the risk of blackouts.More businesses, including thousands of pubs, claim they will shut down this winter unless they get a multibillion-pound COVID-style bailout to cope with rising costs.
And all these are just the problems we know about. There’s an old saying in politics that it’s the crisis you don’t see coming that hits hardest.
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