Connect with us


Robert Chote Subverts May’s “Strong and Stable” to “Weak and Stable”



Before her inauguration as the Prime Minister of United Kingdom and Leader of the Conservative Party, Theresa May estimated her leadership as a “strong and stable” one. In her pre-election speech, she used the phrase “strong and stable” to describe her government.

“The strength to be straight with people and not just tell them what they want to hear. The ability to get the job done. That is what leadership means to me. And it is that leadership that I offer the British people at this election. Strong and stable leadership to guide Britain through the years ahead. And we need that strong leadership now more than ever,” she said.

However, now after one and a half year later, the UK economy is known as “weak and stable”. Robert Chote, the chair of the Office for Budget Responsibility, subverted Theresa May’s pre-election supposition by talking about the “weak and stable” economy.

In his interview with the New Statesman, Robert Chote also claimed that there is a 50/50 chance of another recession over the next five years. “There’s an evens chance of a recession in any five-year period if you look back at the historical experience. We’ve not abolished boom and bust,” he said in the interview.

He believes that as the inflation has gone higher in 2017 due to Brexit-related uncertainty, the economy has slowed down. This is while in most advanced countries, the changes in the economic condition has been reported for the better. The circumstance led Mr. Chote to warn about the upcoming financial crisis.