Martin Vander Weyer Martin Vander Weyer

Save our railway ticket offices!

issue 22 July 2023

‘Always be cheerful’ – a motto to which I’ll return in the final item – speaks to my natural demeanour. But when asked whether I see grounds for optimism in the UK business scene, I’ve struggled lately to find anything positive in the near-certain advent of a Labour government, the agonisingly slow retreat of inflation and the damage of still-rising interest rates. Nevertheless, let me take a step back.

In an ONS survey this month, four times as many respondents (36 per cent) thought their business performance would improve over the next 12 months compared with those who thought it would decline (9 per cent). There were also upticks in expectations for manufacturing output and in consumer confidence. And while food inflation stays sticky (not helped by Russia’s new blockade of Ukrainian wheat), there’s a fair chance that falling energy prices will bring overall UK inflation down to a less strike-provoking 5 per cent by year-end.

Comments

Join the debate for just $5 for 3 months

Be part of the conversation with other Spectator readers by getting your first three months for $5.

Already a subscriber? Log in