The financial image painted by the Financial institution of England of the years forward was unremittingly grim: an extended recession, excessive inflation, falling residing requirements. It might be onerous to discover a worse set of circumstances for a authorities earlier than a basic election.
Threadneedle Avenue was taking loads of flak even earlier than it introduced its newest grotesque forecasts. It could actually anticipate no letup now, as a result of the federal government might want to discover a scapegoat for the distress to return.
And there might be loads of that. The…
