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In this webcast, our speakers preview the latest EY ITEM Club Spring Forecast and discuss the implications for the UK’s economic recovery amidst rising inflation and geopolitical uncertainty.
With the typical energy bill jumping by more than half in April, petrol prices at a record high and taxes going up, cost-of-living pressures are intensifying. Together with the economic consequences of the war in Ukraine still reverberating, the economic outlook remains clouded in uncertainty.
Our speakers Peter Arnold, EY UK Chief Economist, and Martin Beck, Chief Economic Advisor to EY ITEM Club, review the forecast and discuss the implications for the UK’s economic recovery.
Topics discussed include:
- The UK’s economic prospects with continued pressure of higher inflation on real incomes and consumption
- The impact of weaker GDP growth compared to our expectations at the start of this year, and any economic polarization between higher and lower-income households
- The economic outlook going into 2022 considering all supportive factors, including the approximate £180bn of accumulated household savings and the scope for consumers to borrow more
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