According to the front page of The Times “just 63,225 new cars” were sold last month, making for the “worst figures since 1966”. Manufacturers have warned that job losses and plant closures may lie ahead.
Over at my local council, we’re also feeling the pinch.
According to the loftily-titled ’Corporate and Business Services Financial Monitoring Statement’ presented to the Finance Committee last night, the £127,000 we could have expected to have earned from land charges at this point in the financial year has, to date, only amounted to £77,000 up to July 31st - a shortfall of £50,000, a decline of 40%. The housing market, if not dead, has certainly taken a large dose of sleeping pills.
Need more proof we’re in a recession?