BrewDog’s James Watt warns that the UK economy is in for tough times ahead due to the recent budget decisions
London: BrewDog co-founder James Watt has some serious concerns about the UK’s economic future. He believes the recent budget is going to make life really tough for businesses over the next four years.
Watt pointed out that the UK is lagging behind in productivity compared to countries like the US and France. He thinks the country’s attitude towards work and success isn’t helping either.
On the same day, Work and Pensions Secretary Liz Kendall announced a new initiative called “Keep Britain Working.” This aims to help people with long-term health issues get back into the workforce.
Watt, who stepped down as BrewDog’s CEO last May, is also launching a competition show to find new start-ups. He’s offering a £2 million prize to the winner, which is pretty exciting!
He didn’t hold back when discussing the budget, saying it’s really bad for the UK and has caused a lot of damage. He feels the government isn’t doing enough to support entrepreneurs.
Watt also mentioned that the UK is heading towards a recession, with high debt levels and a taxing approach that he believes won’t lead to prosperity.
Meanwhile, Kendall defended the budget, saying it’s not a tax on jobs. She’s worried about rising youth unemployment and is pushing for a guarantee that every young person will either be earning or learning.
Despite her reassurances, Watt is among many business leaders who fear that the budget will lead to layoffs this year. With unemployment rising and job vacancies falling, the outlook seems a bit grim.
