Rachel from Accounts strikes again! Businesses are cutting jobs at the fastest pace in four years following Labour’s record tax-raising Budget, as (actual) economists warn of the rising risk of recession. The Telegraph has more.
A closely-watched survey showed bosses are preparing for “worse to come” in the new year amid a “triple whammy of gloomy news” that has seen growth grind to a halt and price rises gather pace.
Economists said companies were responding to the Chancellor’s £40 billion tax rise with a marked pull-back in hiring. Excluding the Covid pandemic, it was the fastest pace of job shedding since the global financial crisis in 2009.
While S&P Global’s latest barometer of private sector activity showed output barely grew in December at 50.5, just above the 50 level that divides growth from contraction, Chris Williamson, the Chief Business Economist at S&P Global Intelligence, said the economy was stagnating.
He said: “Economic growth momentum has been lost since the robust expansion seen earlier in the year, as businesses and households have responded negatively to the new Labour Government’s downbeat rhetoric and policies.
“Business confidence has sunk to a two-year low as companies weigh up a tougher outlook for sales alongside rising costs, notably for staff as a result of changes announced in the Budget.”
Mr. Williamson added: “Firms are responding to the increase in National Insurance contributions and new regulations around staffing with a marked pull-back in hiring.”
Worth reading in full.
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Labours great reset to communism appears to be working
That’s pretty much what I was going to post. Rachel from Accounts is doing a marvellous job of following orders. These people are truly sick individuals. Clearly the pain and misery that people are going to suffer matters not a jot to Kneel’s gang of traitors.
The road to economic collapse.
Not one of the funniest ‘Road To’ films. I think it’s the one where Bob Hope gets made redundant and goes Postal.
People have agency and are reactionary – they don’t necessarily behave as planned.
I’ll leave it to the master, Adam Smith (Theory of Moral Sentiments 1759) to explain:
“The man [or Rachel from accounts] of system, on the contrary, is apt to be very wise in his own conceit; and is often so enamoured with the supposed beauty of his own ideal plan of government, that he cannot suffer the smallest deviation from any part of it. He goes on to establish it completely and in all its parts, without any regard either to the great interests, or to the strong prejudices which may oppose it.
He seems to imagine that he can arrange the different members of a great society with as much ease as the hand arranges the different pieces upon a chess-board. He does not consider that the pieces upon the chess-board have no other principle of motion besides that which the hand impresses upon them; but that, in the great chess-board of human society, every single piece has a principle of motion of its own, altogether different from that which the legislature might chuse to impress upon it. If those two principles coincide and act in the same direction, the game of human society will go on easily and harmoniously, and is very likely to be happy and successful. If they are opposite or different, the game will go on miserably, and the society must be at all times in the highest degree of disorder.”
But it isn’t all bleak! Generous public sector pay rises combined with a shrinking economy will certainly cause the regrettably lagging inflation to pick up speed which will – in turn – increase demand for more public sector pay rises in the not-too-distant future.
Meanwhile, Ms Reeves remains busy trying to fill a black hole she discovered in the Downing St 11 backyard by throwing ever more of the UK economy into it. “This is an absolute disgrace!” the Millibug complained in a recent interview, “With Rachel driving everything to the wall because of that black hole of hers, what’s left for me to destroy to save future generations from climate change?”
Recession here we come…
A voice like a buzz-saw versus a tungsten drill. No aptitude whatsoever. No charm nothing and she is running the country’s economy. I suppose it is appropriate but it still the stuff of nightmares. Imagine waking up after surgery and she is your nurse.
She has a very deep voice. Is Rachel actually Rodney?
She is like something out of a late 1980s horror story, Misery by Stephen King for example. How she would mentally and physically abuse a cripple I just get that feeling. For God’s sake I hope her fraudulent behaviour sees her expulsion from public life.
But no need to panic, because the Government tells us it’s laying the foundations for a growing economy where we’ll all feel better off. All fuelled by a booming green energy sector that will create jobs and lead the world.
More sherry, anyone?
Might need something a bit stronger…absynthe?
You broke your leg in four places. Don’t worry nurse Rachel will be looking after you tonight you dig?
Anyone who knows what is coming to them will avoid you. Just make it clear from the outset what is coming to them it isn’t difficult this isn’t some clash of the titans most people fold in five seconds.
I think Rachel from Accounts and her acolytes are so stupid that they think businesses have wads of cash lying around to pay for her increase in minimum wage, lowering of the salary level at which NI is paid, raising the rate of NI and doing nothing about the promised reform of business rates. In the same way they think that farmers and landed estate owners spend their evenings rolling in their cash with which they can pay IHT and that family businesses too have lots of spare money to pay tax without selling up. But if you not an economist or have ever run a business, all this will be news to you. Inflation will rise and growth will fall giving the BoE a problem but they are only tasked with controlling inflation so goodbye interest cuts – hooray as a saver. No wonder Ranting is trying to get the May elections delayed. Two Tier must be shitting himself over how bad they will be….if he was here of course.
Idiot communist woman. Destroyer of ournpeople. Put on the list to be tried.
Rachel-from-Complaints implemented the precise policies in order to generate Stagflation.
Well colour me surprised that Stagflation is what we’re getting from the Student Union Marxists who infest the Government, Treasury and OBR.