The UK economy is showing signs of recovery, with the latest figures indicating that the recession at the end of last year was the mildest ever recorded. Despite this, Bank of England Governor Andrew Bailey has stated on the BBC that while the economy has turned a corner, it is not yet experiencing a robust recovery. The government is likely to use these figures, along with a predicted decrease in inflation rate to close to the 2% target, to argue that the economy is returning to normal. However, formal growth has only returned today after minimal growth over the past two years.
The upcoming general election campaign is expected to focus on public perceptions regarding the strength of the economic recovery. Shadow Chancellor Rachel Reeves has criticized the government for being delusional and “gaslighting” the public about the economy’s strength. Both major political parties are positioning themselves to contest the election based on their economic policies. The battle over public perceptions regarding the strength of the economic recovery is expected to be a key focus of the upcoming general election campaign.
