Bank of England says UK economy ‘menopausal' despite RECORD job data

THE BANK of England has warned the UK economy is entering a “menopausal” phase, claiming Britain is heading for a downturn, despite a series of impressive financial data being announced.

Ben Broadbent, a deputy governor of the Bank of England said UK industries’ productivity is “past their peak and no longer so potent”, adding that Britain is currently sitting in the middle of a decade-long slowdown.

The expert likened the dripping tap in growth and wages to the economic lull at the end of the 19th century, when steam power declined but the electricity era had not yet begun.

With wages and GDP growth flat, the problem for the UK is that less tax...
source: Express

2018-05-16 15:50
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