The seven plagues of the economy that await the future British Prime Minister

The successor of Boris Johnson, appointed next Monday, will find on his desk a pile of files, each more urgent than the next. From economic conditions to social unrest, the UK faces a tense autumn, after already a “summer of discontent” punctuated by repeated strikes.

A situation that is reminiscent of that of the 1970s, with galloping inflation, social movements, sluggish growth and failing public services. “The UK looks more and more like an emerging economy,” dares Christopher Dembik, economist of Saxo Bank, in a note very noticed this summer, citing “political instability, Brexit and Covid-related trade disruptions, the energy crisis – with a real risk of a blackout this winter – and high inflation”.

1. Energy crisis and record inflation

The “cost of living crisis” weighs down British households a little more each month. Inflation, which already exceeded 10% in July, continues its race towards records…