'They've lost control' | Gov 'gambling with economy', Asda chairman warns

Since the announcement of the mini-budget by Kwarteng, it would be an understatement to say this week has been nothing but fluctuations and filled with responses from businesses. Also, the pound hitting a record low against the dollar hasn’t helped this week to ease into a better light.

For a while, the terms ‘economy’, ‘pound’, ‘mini-budget’ and ‘living cost’ has been filling the agenda for businesses all over the UK. To add to these terms, many economists and businesses have raised concerns over the turbulence that the overall UK economy is currently facing.

In fact, Sir Stuart Rose, Chairman of Asda and former Chief Executive of Marks and Spencer, has reported that the government is gambling with the UK’s economic future. Also, he likened the government’s mini-budget to a bet on a horse race.

However, Sir Stuart Rose isn’t the only industry-leading figure that shares the same concerns about the UK economy. Sir Keir Starmer, Leader of the Labour Party of the UK, says: “The government has lost control of the British economy." This statement reveals the worry and general theme that has been overwhelmed by businesses across the UK too.