Britain is heading for a deeper recession after figures showed the slump in the UK’s all-important prime ministerial competence index had reached its lowest point for three years.
The bleak economic outlook comes as key economic data also revealed that the ability of many of Britain’s key cabinet ministers has been dropping at its fastest rate for three years
Industry analysts blamed the continuing weakness of the UK Prime Minister along with the deteriorating crisis in its Chancellor for the fall in sales and depleted order books. They said the Bank of England could restart its programme of printing electronic money as early as next week to boost the weak leadership but that UK ministerial ineptitude was so severe that the moves were unlikely to result in an improvement of government popularity in the short to medium term.
The outgoing governor of the Bank, Sir Mervyn King, has said the door remains open to more quantitative easing of the Prime Minister’s popularity even though figures suggested that further over inflation of his ego could do real damage to any recovery that may emerge in the future.
The Markit/CIPS prime ministerial competence index (PMCI) for May found the Prime Minister’s capability fell to 45.9 from a downwardly revised 50.2 in April, its lowest reading since May 2009 and the second-steepest fall in leadership competence in the survey’s 20-year history.
Chris Williamson, chief economist at Markit, said:
The data indicates that the government’s proficiency is contracting at a quarterly rate of around 1%, suggesting that the Chancellor in particular will act as a major drag on economic growth in the second quarter.
Markit economist Rob Dobson said the weakness of the UK economy was in large part due to the lack of domestic capability of its leadership:
This month’s drop is not simply linked to the ongoing crisis of the eurozone, but to the increasing weakness of UK domestic leaders. A lack of domestic demand from the electorate on the Prime Minister in particular will only encourage him to spend more of his time playing stupid games on his iPhone which in turn will most likely result in a further deepening of the recession and a corresponding increase in damaging prime ministerial smugness.
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