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News today is telling us the British economy shrank by 0.5% in fourth quarter of 2010 instead of the 0.6% previously reported by the Office of National Statistics
Over the last three months of 2010, the total value of the goods the UK imported was £26.8bn higher than the total value of the goods it exported.
However, the UK exports more services than it imports, so the total goods and services trade gap is narrower, at almost £10.5bn.
The trade figures was released alongside the final revision of GDP for the fourth quarter of the year, which put it at -0.5%, slightly down from the previous estimate of -0.6%.
All this must look worrying news for George Osbourne and his tory friends inteh cabinet. It is even more worrying to those of us at the bottom of the scale who have no say in what happens at teh top. Decisions to cut spending now is looking increasingly foolish. No one is denying teh deficit has to be dealt with but these massive cuts on the working class which are far too disproportional in my view are simply unfair. As i've previously stated i'm against all cuts as a collection of tax evaders totalling roughly 120 billion pounds would more than cover our deficit. But will the tories do this ? i doubt it somehow, It would mean upsetting a lot of their friends in the city and we cant have that now. So the poor and the working class must suffer as usual. Figures like this just bring it home what the tories are doing to this country more harm than good that's for sure.
More figures like these will lead us back into a recession which i feel we're not too far away from now. Any minimal growth last year was carried over from before but now we're running on empty. As socialists we call on nationalising the banks and bringing them into workers ownership, public ownership. Not the semi nationalisation what happened with RBS in 2008 a total nationalisation of all the banks and demand they open their books for transparancy there is evidence that there is plenty of wealth sloshing around at the top lets see more of it used to protect our public services and stop this attack on the working class.
I doubt labours plans would have worked, it's going to take many years of hard times, low wages and poor people getting poorer, before we see the good days again.
ReplyDeleteBut go back to Thatcher, I had my accident in the Thatcher period as a disabled person the Tories on the whole were good to me, Labour were down right awfully. Now the Tories are in power I suspect the next few years will be hard then get better.
The big problem for people is seeing the difference between labour and the Tories, just been reading a report by labour about the sell off of the NHS shock horror Labour says look we should not be fighting all of the cuts or sell off.
Labour Tory Tory labour hard to see the difference these days.
I joined labour in 1963
your spot on with your assesment of labour, i was a member for a bit but left when i realised how much they cosy up to big business and totally forget about their members and the poor. which they are supposed to represent. it is totally undemocratic your voice is never listened to and it is all top down approached to everything. what the leadership ssay happens. the members rarely get a say and now they want to open it up for the public to say how the party should be run. how must that make the members feel ? i've now left but i'd be outraged . you are spot on thre is very little difference between any of the main 3 political parties in britain today. they are all just different wings of the same capitalist party sadly. voters have no choice.
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