As global inflation gathers pace the UK economy continues to struggle and will continue to do so for many years to come. Not that it’s any different in the European Union (EU), which has some of the highest inflation rates in the developed world.
Take Estonia and Lithuania, for instance, where inflation is over 22% - nearly twice that of the UK. Even in Germany, which is often held up as an example of manufacturing and fiscal excellence, inflation is in double digits. In Belgium, it has reached 13.1%.
Many people blame a botched Brexit which while being partly responsible for a few of our problems is not to blame for most. We have the global pandemic and war in Ukraine to thank for that. Those two important issues, plus a total mismanagement of the crisis by the government at the time. Not that I think any other political party would have done better. Panic had set in and when that comes in the door common sense goes out the window.
