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UK inflation nearly twice the average European rate

A report by the Organisation for Economic Co-Operation and Development has today highlighted the problems which the next UK government will face with UK inflation nearly twice the average rate in Europe. This means that the cost of living in the UK is rising twice as fast as anywhere else in Europe at a time when the UK government is drowning in a sea of debt and public sector investment is set to be slashed.

One major problem is the fact that an increase in inflation will see the cost of goods and services increase for companies in the UK at a time when consumers can ill afford to take on board any price increases. This will mean either reduced profit margins or reduced business levels at a time when companies in the UK need as much income and as much business as possible. There will be little in the way of additional funding available for the next government to bail out any trouble sectors in the UK and indeed it is likely we will see corporation tax and income tax increase steadily in the short to medium term.

We are fast approaching a nightmare scenario in the UK although many people are still switched off to this possible problem.

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