Britain could be heading for another recession—the infamous double dip—according to predictions expected this week from the government’s Office for Budget Responsibility.
But chancellor George Osborne hopes doing a U‑turn in his autumn statement will mask the bad economic forecast. He looks set to signal a move to an economy “plan B”.
The Office for Budget Responsibility was set to report that its already dire growth predictions were too optimistic.
Many working class people in Britain feel like they never noticed any recovery from the last recession.
The bosses’ paper, the Financial Times, warns that this could mean “a period of austerity lasting into the next parliament”.
But it appears that the Tories are only enforcing austerity on workers and the poor.
It seems Osborne has found billions of spare pounds for what he has puffed up as a National Infrastructure Plan.
But in reality this is a way of pouring money into the pockets of his friends in private business with subsidies and cut price loans.
The Tories claim the private sector will rescue the economy, so it needs investment. But they are sticking to austerity plan A for the rest of us.