Brexit Unfolds: Spending Slides, Restaurants Wipeout
The Parliament Shuffle
Boardroom drama meets the streets of Westminster! Prime Minister Theresa May just announced that the postponed vote on her Brexit plan will hit Parliament sometime between January 14‑20 – the week that starts on the 7th.
Spending Slump – Let’s Talk Cash
Visa’s latest numbers are spooking the public: consumer spending is down 0.7 % year‑on‑year since November – the steepest slide in four months. Money’s tightening, likely because people’re fumes up the weekend market, or just feeling the pinch of a penny‑thin pound.
- Food prices are up – wages are chasing them.
- Restaurants confess to stepping out of the country – more than 1,200 closures by September.
- Jasper Lawler of London Capital Group cautions: the retail world is getting a little over‑extended; post‑Christmas, hiring may just stop.
May’s Plan – A Close‑But‑Not‑That‑Close Deal
Her proposed Brexit deal keeps the UK in a comfy economic hug with the EU. The vote will be in the second week of January, but only if aides back her. If they don’t, a second referendum could be cancelled, pushing the country to a full exit. Companies already mutter “The world’s fifth‑largest economy might just trip and fall.”
Credit‑Card Slapback?
Fitch, the ratings agency, already read the headlines: a sudden exit could trigger a downgrade on the New Year’s card. Pay beware.
In short, the UK is in a sweet‑and‑sour texture of politics and finances, a perfect storm for those keeping an eye on the future.
