“God save the King”, God save the King… and England. This change of reign does not really come at the best time. Because the clouds are gathering over the United Kingdom: after Brexit, a pandemic that has hit it hard, it is the turn of the energy crisis and the highest inflation rate, 9%, since 1981. A host of negative signs that has Goldman Sachs predicted a recession in the country’s economy before the end of the year.
The Bank of England forecasts a 1.5% contraction in GDP next year. The result: growing tension in bond markets. And this unprecedented economic crisis since the 1950s has serious social consequences.
Unparalleled social crisis since 1950
Extreme poverty, defined as £70 (€80) a week for a single adult after housing costs, has doubled in Britain since the pandemic. It went from 0.7% to 1.5% of all households. Two million households would be affected, that is, one million children according to the National Institute of Economic and Social Research. In parts of Britain, families are now struggling to eat or stay warm.
Food banks, like Amazing Grace, and charities are always packed. In their queues, fathers and mothers of families are now mixed with homeless people and people suffering from addictions. Fathers and mothers who work, but can no longer cover their needs because prices have risen.
Liz Truss succeeds Boris Johnson
Added to this is a political crisis. After Boris Johnson’s troubled administration, Liz Truss succeeds him at 10 Downing Street. C’est d’ailleurs la dernière charge officielle qu’Elisabeth II honoré: la queen les a reçus tous les deux quatre jours plus tôt à Balmoral, sa résidence d’été of her in Ecosse, et a officialisé the passage of pouvoirs comme I saw the tradition. Liz Truss, the very recent Prime Minister, will therefore have to start by organizing and managing the funeral of the late queen, who has barely settled in Downing Street.
The profile of Liz Truss, nicknamed the “new Margaret Thatcher” and who has just announced a plan for energy aid of 100,000 million euros, is not made to comfort the subjects of her gracious majesty. Who, therefore, have just lost a reassuring symbol, Elizabeth II, her queen for 70 years.
Source: BFM TV
