What will happen to the UK economy after the departure of Boris Johnson? † Currently

Prime Minister Boris Johnson’s resignation will initially add to uncertainty in the already shaky British economy. The kingdom is dealing with spiraling inflation, the risk of a recession and the consequences of Brexit.

The exchange rate of the British pound is also low against the dollar, and the central bank is skeptical about raising interest rates or not. The UK economy is the fifth largest in the world by size.

The UK has a very high inflation rate, which could rise to more than 11 per cent later this year. This is mainly due to global pressure on energy and food prices; A successor to Johnson couldn’t change that either.

Even before Johnson’s departure was announced, the Treasury Secretary resigned. The two differed over the tax cuts Johnson wanted to introduce to boost his popularity. The back must now strike for it.

The UK and Brussels have been arguing over the minute details of the trading relationship with respect to Northern Ireland since Brexit. Johnson was tough about it. The Caliph may come up with an agreement in this file, and this would lead to a better relationship between the two trade blocs.

See also  Ukraine Crisis Live Blog: Russia opens humanitarian corridors to Kiev, Mariupol, Kharkiv and Sumy - World

Megan Vasquez

"Creator. Coffee buff. Internet lover. Organizer. Pop culture geek. Tv fan. Proud foodaholic."

Leave a Reply

Your email address will not be published. Required fields are marked *