The UK’s stock market has been in free fall for the past six months and the government is in crisis as the economy falters, according to a new report by the Economist Intelligence Unit (EIU).
The EIU, which tracks financial trends, said on Monday that the UK economy has shrunk by 2.7% in the last quarter of the year and that it is now in a “danger zone” in terms of its prospects.
The EMU said in its latest annual report that the country is facing a “crisis of confidence”, and that the government has been unable to fix the problems.
The ESU report also said that the pound has been on a slide against the US dollar, which has fallen to about $1.28 per pound.”
The economic outlook is deteriorating and we expect the UK’s growth rate to slow from 2.5% in Q1 to 2.0% in 2021.”
The ESU report also said that the pound has been on a slide against the US dollar, which has fallen to about $1.28 per pound.
Its analysts said:”While there is a small upside to sterling’s decline against the dollar, we expect that it will continue to fall in the coming months.”
Meanwhile, in London, the government was trying to revive growth by boosting the state’s investment in the housing sector.
The government plans to build more than 1 million homes and help households pay their mortgage, as part of a strategy to boost employment and stimulate the economy.
“We are investing to create a sustainable housing market,” Housing Minister Andy Burnham said on Tuesday.
“This is a priority for me.
It is my job to build homes and I’m doing that.”‘
We don’t have the capacity’To make this happen, the chancellor, Philip Hammond, has said the government will be investing in more housing.
However, the EIU said the chancellor’s strategy was too small and too vague, as it did not mention how the government would invest or where those funds would be used.
“The government has failed to identify a strategy, or even a plan for how it would spend its new resources,” the EMU report said.
“As a result, we do not have the ability to build a viable housing market.”
Meanwhile in Manchester, the council has promised to build around 6,000 new homes, but the EBU has said that it does not have enough funds to do so.
It has said it will take a further 1.3 million pounds to build enough homes.
The government is also trying to boost its trade union membership, which fell to an all-time low of 13,814 last year.