The United Kingdom may enter a recession due to political uncertainty provoked by Prime Minister Boris Johnson’s controversial behavior, Tony Danker, the chief of the Confederation of British Industry, said.
The popularity of the British prime minister sank after Partygate, a political scandal about illegal gatherings of the government staff held during the COVID-19 pandemic. Mr. Johnson is now seen as less trustworthy than any other member of the current government.
The prime minister even faced a no-confidence vote in Parliament but won it and remained in office.
“We need to have a prime minister and a chancellor co-chairing meetings, bringing all the government together and making these decisions quickly rather than waiting for budgets... ensuring confidence stabilizes and we avoid recession,” Tony Danker emphasized.
The CBI’s director-general reckons that financial support for businesses and a favorable investment climate can promote the stabilization of the British economy, prompting an adequate response to soaring prices of electricity, fuel, food, and other goods and services.
The British government should act decisively if it wants to support its national economy. In the future, this can help avoid a recession in the country and instill confidence in entrepreneurs, Danker summoned.