UK PM Theresa May failed for the third time to get Parliament to ratify her Withdrawal Agreement. More indicative votes take place in the House of Commons today. The probability of cross party support for a customs union has increased, but it is still hard to see how the impasse is solved. The UK is now due to leave the EU on 12th April, but a longer extension of Article 50 looks likely.
Despite strong investment, record employment and (finally) real pay growth, weak spending slows the economy.
Last week saw jobs and wages rise whilst inflation and interest rates stayed flat. Economists fret about slow productivty growth and the damage that does in the long term. But right now conditions could be much worse. Continue reading