- Posted by currencies in Rate Alerts
- January 9, 2018
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Inflation-squeezed British shoppers cut back on almost everything other than food in the last three months of 2017, leading to the biggest fall in non-grocery spending since 2009, industry figures showed on Tuesday.
British Prime Minister Theresa May’s leadership team shake-up, designed to restore her authority and address divisions over Brexit, was branded a shambles after one minister quit and media reported another had refused to move jobs.
May had hoped to reset her agenda and strengthen her hand as Britain moves to the second phase of talks over leaving the European Union by shaking up her team of cabinet ministers yesterday.
With no changes to the senior finance, Brexit, foreign and interior ministers, opponents said the reshuffle showed her weakness and inability to reassert her authority.
Despite winning an important agreement last month from the EU to move Brexit talks forward from a first phase to a discussion of future trade, May has been criticised at home for her approach to healthcare, housing, transport and Britain’s overall Brexit plans.
The Conservatives are also reported to be losing members at a time when the main opposition Labour Party, under leftist leader Jeremy Corbyn, is enjoying record levels of support, suggesting to some that it is on course to win a new election due in 2022.