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Douglas McWilliams: Shortages and inflation fears reminiscent of 1970s


By Douglas McWilliams
© Shutterstock / F Armstrong Photo
Will food shortages send inflation soaring, like in the 1970s?
If shortages cause inflation to hit 10%, it might cost 4% of GDP (gross domestic product) to get it back down again.
Some readers will remember the shortages of the early 1970s, and specifically 1973 and 1974.
My parents were furnishing a newly built house overlooking the first fairway of the Muirfield golf course in December 1973, and I vividly remember them having to get the furniture made in Malaysia and then shipped to the UK to enable us to have it in time for Christmas.
© PA Wire/Press Association Images ....

United Kingdom , East Lothian , Northern Ireland , Kay Neufeld , Shutterstockf Armstrong , Douglas Mcwilliams , Pa Wire Press Association Images Golf , Championship At Muirfield Golf Club , Press Association Images , Muirfield Golf Club , Suez Canal , British Leyland , United Kingdom Government , ஒன்றுபட்டது கிஂக்டம் , கிழக்கு லோதியன் , வடக்கு ஐயர்ல்யாஂட் , காய் நியூஃபெல்ட் , டக்ளஸ் மக்விலியம்ஸ் , ப்ரெஸ் சங்கம் படங்கள் , ம்யூவைர்‌ஃப்ல்ட் கோல்ஃப் சங்கம் , ஸூயெஸ் கால்வாய் , பிரிட்டிஷ் லேலண்ட் , ஒன்றுபட்டது கிஂக்டம் அரசு ,

Relaxing Covid lockdown rules gives boost to consumer confidence


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Is the UK heading towards a house price crash?


The property market is running at its fastest pace since before the financial crisis
20 May 2021 • 6:00am
Annual house price growth in March hit 10.2pc, according to official figures – the highest rate of growth recorded since August 2007.
It is a comparison that sparks fears of an overheated market. August 2007 was the peak of the housing market before the financial crisis. Less than a year later, a 17-month period of house price falls began, with values plummeting nearly 16pc.
Government measures such as the stamp duty holiday and the furlough scheme have so far insulated the housing market from the worst economic shock in 300 years. Can the growth continue, or are these overheated house prices on borrowed time? ....

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