1. The BOE has tightened money supply over the last 12 months and is continuing to do so, which has slowed UK growth. This is a bit puzzling and normally a response to high inflation, but this is not currently excessive and falling. The only other explanations are political with Carney wanting lower growth in 2018 / 19. I will leave it to you to decide why? One of the things they have targeted money restrictions on, and I agree with, is rapidly increasing debt with car leasing deals where they were growing at an excessive rate.
2. Gideon in his last budget raised new car tax and excise duties on the biggest most expensive car disproportionately and it is working, where this is the JLC sector, that is being hit the hardest. The revenue the government is making has also dropped where it is the wrong side of the Laffer curve.
3. Gideon also hit top end property and buy-to-let stamp duty were massively increased, so the number of sales have dropped significantly, so they are also the wrong side of the Laffer curve and are producing less government revenue.
4. Government and EU uncertainty on derv tractors means that people are quite rightly holding off from replacing their cars so they don't get left with an even more highly taxed, depreciating lemon.
5. UK tax burden is now also the highest for almost 40 years with rumours that Trotsky May and Spreadsheet Phil intend to raise them them still further in the forthcoming budget to fund the NHS budget expansion, social care and end austerity. Ending austerity at this stage in the political cycle with our massive excessive 79-80% of GDP £1.8tn of debt is IMO irresponsible madness. We are almost at the end of the current longer than normal economic cycle. If the next recession increases UK debt by as much as the last one it will add another 40-50% of GDP debt so we owe 120-130% of GDP which will put us in the league with other paragons of virtue European countries like Portugal, Italy and Greece.
All boring factual stuff I'm afraid, but don't let this get in the way of any entertaining fake news reasons.
Blame Brexit and you can join in with the other UK MSM propaganda organisations like the BBC which is totally unbiased. Anyone would think that they are about to lose their EU grants.