So today the national office for statistics published its results of growth between October 2010 and December 2011 and reported that the UK's economy shrunk by a estimated 0.5% between those dates. a huge well done to the con-dems. your plan is successfully failing. Another quarter like that early 2011 and we will be back in recession. Fantastic work guys. Is this what they meant by change vote for change at the election last year ? must have been. MOre and more cuts and record VAT on items and rocketing inflation.
The tories have unveailed a time bomb now and i think they will struggle to get the economy going again. It seems as though they are obsessed with cuts and this shrinking of the GDP of the country will probably only encourage them to carry out more cuts more harder and deeper.
They think that cuts are the answer, well are they the answer so far ? i would strongly say not
what is their plan B if we do slip back into recession, carry on cutting ? god help us
from the bbc :
http://www.bbc.co.uk/news/
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Showing posts with label negative growth. Show all posts
Showing posts with label negative growth. Show all posts
Tuesday, 25 January 2011
Tuesday, 18 January 2011
Britain slowly slipping back towards recession
So as we hear today inflation rose from December, Retail Price Index which shows most accurately reflects cost of living, up 4.8% with public sector pay freeze and low private sector pay rises is resulting in a negative growth for the first quarter of 2011 for sure.
With the rise of VAT not being taken into account yet having only just been introduced in early January and with most of the big cuts to hit in the next few months. Things really do look bleak now. The picture is slowly starting to unflod of what a mess we are going to be left with. With hundreds of thousands of jobs set to go in the public sector which will consequently have a knock on in the private sector i can only see us heading back into recession crippling the poor even further as the government will set a bout more harsher cuts to try and pull the ship around.
But the damage is already set in i feel the ship is sinking and teh attemptst o keep it afloat are failing badly. With the tories at the helm what else should we expect really. This is worrying times indeed for the country and i cant see this working all these cuts.
With interest rates still being forced down at 0.5% to help government borrowing figures this wont change i doubt and with food and fuel prices rocketing as i have posted in previous blog posts things are looking grim.
When will the terms recession and double drip recession be rolled out as we are slowly slipping backwards i think. It is inevitable that this will happen now with all these cuts hacking apart all what is good about our welfare state. I also think the abolishment of the EMA grant to students to stay on in further education will have a bigger effect than many think. It is estimated that as much as 7 out of 10 students will be forced to leave school as they wont be able to afford to carry on. With a whole generation out of education what will they turn to ? there are very few job opputunities out there for the youth of today so that will have a big impact. Alot of kids will grow up again just like under Margret Tatcher not having any job prospects and waht affect that will have on the country will be devastating.
With the rise of VAT not being taken into account yet having only just been introduced in early January and with most of the big cuts to hit in the next few months. Things really do look bleak now. The picture is slowly starting to unflod of what a mess we are going to be left with. With hundreds of thousands of jobs set to go in the public sector which will consequently have a knock on in the private sector i can only see us heading back into recession crippling the poor even further as the government will set a bout more harsher cuts to try and pull the ship around.
But the damage is already set in i feel the ship is sinking and teh attemptst o keep it afloat are failing badly. With the tories at the helm what else should we expect really. This is worrying times indeed for the country and i cant see this working all these cuts.
With interest rates still being forced down at 0.5% to help government borrowing figures this wont change i doubt and with food and fuel prices rocketing as i have posted in previous blog posts things are looking grim.
When will the terms recession and double drip recession be rolled out as we are slowly slipping backwards i think. It is inevitable that this will happen now with all these cuts hacking apart all what is good about our welfare state. I also think the abolishment of the EMA grant to students to stay on in further education will have a bigger effect than many think. It is estimated that as much as 7 out of 10 students will be forced to leave school as they wont be able to afford to carry on. With a whole generation out of education what will they turn to ? there are very few job opputunities out there for the youth of today so that will have a big impact. Alot of kids will grow up again just like under Margret Tatcher not having any job prospects and waht affect that will have on the country will be devastating.
Wednesday, 17 November 2010
Is Ireland still a example to follow ?
Today The EU tried to downplay bailout talks with the Irish government of nothing to worry about
http://www.bbc.co.uk/news/business-11771574
With Ireland joining the growing list of EU countries facing hard times joining Greece, Spain, Portugal and Italy this is worrying times for the European Union.
What was set up on a wave of optimism with alot of the founding members doing well to start with since the economic down turn alot of these countries who cant independantly control their own currency or devalue it in any way are left in some rather difficult situations.
Ireland for example of which the posted link refers to has under gone round after round of deficit cuts. Something which our own Chancellor of the United Kingdom George Osbourne admired and priased lavishly a few years back now.
He saw them as a beacon and a example to follow. Well now Mr Osbourne lets look where Ireland stand now. On the brink of defaulting on their repayments and crippling debt. Ireland seem to be on the slide rather than picking up. With high unemployment in the Republic and little prospect for new job creation their economy seems to be stalling.
With the Uk looking like we'll step in and help with a big bailout of ireland is this really the route George Osbourne really wants to be taking the Uk down ?
With huge cuts cuts mass unemployment. As ireland have found out cuts dont create growth and growth leads back to recession.
George Osbourne has gone ratehr quiet on ireland and matters of this since these news stories ahve been coming out. Perhaps he is turning a blind eye to it and hoping our cuts over here will be alright. Well let me tell you they wont. They are the biggest peace time public sector cuts since the 30's back when you guessed it we cut too harda nd far too deep and found oursleves trapped in a depression for many years.
I do hope ireland pull through this but it is nothing new and i can only see things getting worse there before better.
http://www.bbc.co.uk/news/business-11771574
With Ireland joining the growing list of EU countries facing hard times joining Greece, Spain, Portugal and Italy this is worrying times for the European Union.
What was set up on a wave of optimism with alot of the founding members doing well to start with since the economic down turn alot of these countries who cant independantly control their own currency or devalue it in any way are left in some rather difficult situations.
Ireland for example of which the posted link refers to has under gone round after round of deficit cuts. Something which our own Chancellor of the United Kingdom George Osbourne admired and priased lavishly a few years back now.
He saw them as a beacon and a example to follow. Well now Mr Osbourne lets look where Ireland stand now. On the brink of defaulting on their repayments and crippling debt. Ireland seem to be on the slide rather than picking up. With high unemployment in the Republic and little prospect for new job creation their economy seems to be stalling.
With the Uk looking like we'll step in and help with a big bailout of ireland is this really the route George Osbourne really wants to be taking the Uk down ?
With huge cuts cuts mass unemployment. As ireland have found out cuts dont create growth and growth leads back to recession.
George Osbourne has gone ratehr quiet on ireland and matters of this since these news stories ahve been coming out. Perhaps he is turning a blind eye to it and hoping our cuts over here will be alright. Well let me tell you they wont. They are the biggest peace time public sector cuts since the 30's back when you guessed it we cut too harda nd far too deep and found oursleves trapped in a depression for many years.
I do hope ireland pull through this but it is nothing new and i can only see things getting worse there before better.
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