Brexit gridlock has dragged the UK economy close to stalling point as growing numbers of companies pause their spending plans, raising the risk of job losses in future, according to a Guardian analysis of developments over the past month.
With less than 40 days for the government to take urgent evasive action to avert no-deal Brexit, the economy has become increasingly reliant on consumers carrying on spending as businesses slam on the brakes.
The Guardian’s monthly Brexit dashboard reveals several warning signals for Philip Hammond as he prepares to deliver next month’s spring statement, the final major fiscal event before the UK formally leaves the EU. There are positives putting Britain on a stronger footing ahead of Brexit from the jobs market and growth in household spending.
However, two former Bank of England policymakers warn that clouds are gathering for the future as the UK braces for a no-deal departure.
While unemployment in the final months before Brexit is at the lowest level since the mid 1970s, more than 10,000 manufacturing jobs in the British car industry have been put at risk by the lack of clarity over future trading relationships and shifting trends in the worldwide automotive sector. Honda, the Japanese carmaker, announced plans to close its Swindon plant, while Jaguar Land Rover and Ford have also said they will axe thousands of jobs. [...]
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