Bye-bye Boris! Britain’s list of crises continues to grow…

BoJo gets the boot

In case you live on Mars and missed it, last week UK PM, Boris Jonson, announced that he will be stepping down following insurmountable pressure from his cabinet and the parliamentary Conservative party. The Prime Minister’s handling of ethical scandals had been consistently placed under the microscope over the last 12 months.

Just the latest in a long list of problems

This latest twist joins the impending recession, the war in Ukraine and dealing with fears over new sub-variants of Omicron on the list of issues facing the UK.

#1 The UK has the highest inflation in the G7

Brought on partially by the lingering impact of Covid and the supply shortages that have resulted from Russia’s invasion of Ukraine, food and energy costs have soared, helping to plunge the country into a cost-of-living crisis.

#2 And nearly the lowest growth levels

The fifth-largest economy in the world effectively ground to a halt earlier this year, with all three major sectors of the economy — services, manufacturing and construction — going backwards. Retail is also floundering, as the public desperately cut back their spending due to those rising costs and stagnant incomes.

#3 While Brexit hasn’t exactly worked out… yet

How could we leave this one out? Aside from scandal after scandal, his ability to “Get Brexit done”, will likely be Boris’ ultimate legacy. We’re not sure he’d be too proud of that, though.

Have your say!

Who do you think will become the next PM? Do you think they have what it takes to steer the UK to calmer waters? We’d love for you to let us know by tweeting us at @_Contentworks.

Top trading events this week

We should see quite a quiet week in the markets, here are the hottest events for your trading calendar.

Monday

● NZD — Inflation Rate YoY (Q2)

Tuesday

● GBP — Employment Change (APR); Unemployment Rate (MAY)

Wednesday

● GBP — Core Inflation Rate YoY (JUN); Inflation Rate YoY (JUN)

Thursday

● JPY — BoJ Interest Rate Decision; BoJ Quarterly Outlook Report

Friday

● JPY — Inflation Rate YoY (JUN)

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