Osborne warns of ‘dangerous cocktail’ of economic risks

Thursday, January 7, 2016
By Paul Martin

BBC.com
Jan. 7, 2015

The UK faces a “cocktail” of serious threats from a slowing global economy as 2016 begins, Chancellor George Osborne has warned.

Speaking in Cardiff, Mr Osborne said this year is likely to be one of the toughest since the financial crisis.

He told business leaders that far from “mission accomplished” on the economy, “2016 is the year of mission critical”.

His message is in stark contrast to the positive tone of his Autumn Statement, when he said the UK was “growing fast”.

Earlier the chancellor told BBC Radio 4’s Today programme that the Autumn Statement had put in place a four-year plan to restore the UK’s public finances, and make the economy more productive, with businesses more competitive so they could create jobs.

“It is precisely because we live in an uncertain world. It is precisely because we have not abolished boom and bust as a nation, that you need to take these steps, difficult steps, and I need to go explaining to the public, that the difficult times aren’t over, we have got to go on making the difficult decisions, precisely so that Britain can continue to enjoy the low unemployment and the rising wages that we see at the moment,” Mr Osborne said.

The chancellor’s warning came on the same day that China suspended trading on its stock markets after only 15 minutes.

The Rest…HERE

Leave a Reply

Join the revolution in 2018. Revolution Radio is 100% volunteer ran. Any contributions are greatly appreciated. God bless!

Follow us on Twitter