{"id":42516,"date":"2018-07-20T10:10:05","date_gmt":"2018-07-20T09:10:05","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=42516"},"modified":"2018-07-20T10:10:06","modified_gmt":"2018-07-20T09:10:06","slug":"the-shortest-economic-suicide-note-in-history","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2018\/07\/20\/the-shortest-economic-suicide-note-in-history\/","title":{"rendered":"The shortest economic suicide note in history"},"content":{"rendered":"

The people of this country are at their limits.\u00a0As I have already noted this week<\/a>, despite supposed record numbers of people in work real and notional incomes are falling, which is not what economic theory says should happen in that situation.<\/p>\n

And, to make matters worse, the UK population are saving less than they ever have. This data on the so-called savings ratio is from the ONS<\/a>:<\/p>\n

\"\"<\/a><\/p>\n

The reality is that people simply do not have enough left over to save. Margins have been cut to the bone. And a decline at the rate now being seen is quite extraordinary.<\/p>\n

And this is before Brexit destroys jobs, cuts government cash flows, and increases prices because of additional costs, even if there are no additional tariffs or shortages.<\/p>\n

We are already at breaking point. It\u2019s either that, or the employment data is bogus. I confess the latter equally plausible, although if it is that only confirms my hypothesis that we are already in a terrible economic place.<\/p>\n

And now we wish to impose more chaos on it? Brexit is the shortest economic suicide note in history. Has a nation ever before chosen something quite so destructive?<\/p>\n","protected":false},"excerpt":{"rendered":"

The people of this country are at their limits.\u00a0As I have already noted this week, despite supposed record numbers of people in work real and
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