Hunt Says the Economy Is “Back on Track,” but It’s the Wrong One

The chancellor somehow believes this is the right path despite stagnant growth and predicted economic shrinkage.

When I first read this morning that Chancellor Jeremy Hunt had claimed that the UK’s economy was “back on the right track,” I scoffed.

“What do you consider to be the right track?” I asked myself. I mean just look around, anyone can see that the economic conditions in this country are poor.

Yes, we were able to avoid, albeit very narrowly, recession. But with strikes crippling the nation, a growth rate of 0% in February, and many still struggling with household bills, it is hard to see any meaningful improvement.

In fact, it is a stretch to even say that we are in recovery at all. It was just this week that the IMF predicted that the UK would be one of the worst-performing economies this year, with it projected to shrink by 0.3%. Performing worse than that of sanctions-hit Russia.

Now with all fairness, the economy that Mr. Hunt inherited was not ideal, to say the least. The tax-slashing Kamikwasi budget had blown a giant £60bn black hole in the finances of our nation, and markets had been deeply rattled.