The economy? As bad as predicted and what does it mean?

[Whattree]

I know it’s apparently going to crash. But for a dumbed down explanation (I’m not a business person!)...what can we expect? Will it be as bad as they think?

So far I can only foresee house prices dropping. But beyond that I’m not great with economy understanding...

Bad in what way?

For individuals or the country as a whole?

The cost of anything imported will go up because the buying power of the pound will drop. Companies will struggle as their overheads will rise and they'll need to put prices up so they'll be competing for the same money as every one else.

@Whattree

I know it’s apparently going to crash. But for a dumbed down explanation (I’m not a business person!)...what can we expect? Will it be as bad as they think?

So far I can only foresee house prices dropping. But beyond that I’m not great with economy understanding...

Unless there is a flight from cash to real property. Then property prices can rise even whilst everything else collapses - provided government financial underpinning is provided (which it is, with stamp duty cut and 95% mortgages for FTBs).

Taxes will rise in all areas to covers the cost of Rishi's money tree.

cover the cost. Wish we could edit.