Eater Sundae Posted July 23, 2010 Share Posted July 23, 2010 Whatever your political persuasion, the Tories can't take the credit for improved growth just a few weeks after coming into office. Everything that happens with the economy for the next few months...good and bad is down to Labour. I'm guessing, but it must take 12-18 months for government action to filter down to GDP figures.... How about the fact that there was no longer a Labour government resulting in increased confidence, and therefore investment and growth. Link to comment Share on other sites More sharing options...
artisan Posted July 23, 2010 Share Posted July 23, 2010 How about the fact that there was no longer a Labour government resulting in increased confidence, and therefore investment and growth. Do some people have confidence in this coalition? The poor souls, tell them they can still get treatment free of charge for their delusions. They had better hurry though, as it will only be volunteers looking after them before long. Link to comment Share on other sites More sharing options...
Eater Sundae Posted July 23, 2010 Share Posted July 23, 2010 Do some people have confidence in this coalition? The poor souls, tell them they can still get treatment free of charge for their delusions. They had better hurry though, as it will only be volunteers looking after them before long. It's all relative. Compared to the Shambles created by Brown, in both his roles, there would be an upturn in confidence who ever took over. Link to comment Share on other sites More sharing options...
Blue Moon Posted July 24, 2010 Share Posted July 24, 2010 Neeeiighhh, lad!!! This can't be right, as Marks & Spencer in Skegness is closing down after Christmas!! Dooooommed, I tell ye, DOOOMMMED!! Link to comment Share on other sites More sharing options...
Mecky Posted July 24, 2010 Share Posted July 24, 2010 It has been released today that the UK's economic growth was 1.1% for the second quarter of the year (April-June). Will this sudden increase in economic growth silence the neigh says who have predicted doom and gloom for the UK economy under the control of the coalition government? Probably not, but it does show a stark contrast compared to the last growth figures for the period, Jan - March, under a Labour government which saw a paltry 0.3% growth. Ref: http://www.bbc.co.uk/news/business-10737352 Jesus, give your brain a chance Link to comment Share on other sites More sharing options...
Wildcat Posted July 24, 2010 Share Posted July 24, 2010 From the BBC article: The Chancellor, George Osborne, said the figures proved his plan to cut the public sector was right. He said: "In the Budget, I set out a plan to restore confidence in our economy by dealing with the deficit, starting this year, and to rebalance growth from the public to private sector. "Today's figures show the private sector contributing all but 0.1% of the growth in the second quarter, and put beyond doubt that it was right to begin acting on the deficit now." Page 5 of report he is commenting on: http://www.statistics.gov.uk/pdfdir/gdp0710.pdf Quarter-on-quarter contribution to growth Agriculture 0.0 Total Production 0.1 Manufacturing 0.2 Extraction 0.0 Utilities 0.0 Construction 0.4 Total Services 0.7 Distribution, hotels & restaurants 0.1 Transport, storage & communications -0.1 Business services & finance 0.4 Government & other 0.2 The numbers all add up to 2, so Govt. and other accounts for 10% of growth. Furthermore Govt spending will have contributed to most other areas in particular Construction. Our Chancellor is either a liar or he can't do his maths. However you look at it, it doesn't do much for any confidence in him does it? Link to comment Share on other sites More sharing options...
Greybeard Posted July 24, 2010 Share Posted July 24, 2010 From what I understand the figures released so far represent only 40% of the total picture...which will likley not emerge until mid-August, so it's a little premature for anybody to take any credit for a growth upturn that may in the end not be any such thing. Link to comment Share on other sites More sharing options...
artisan Posted July 24, 2010 Share Posted July 24, 2010 It has been released today that the UK's economic growth was 1.1% for the second quarter of the year (April-June). Will this sudden increase in economic growth silence the neigh says who have predicted doom and gloom for the UK economy under the control of the coalition government? Probably not, but it does show a stark contrast compared to the last growth figures for the period, Jan - March, under a Labour government which saw a paltry 0.3% growth. Ref: http://www.bbc.co.uk/news/business-10737352 I did not realise horses were such good economists. Link to comment Share on other sites More sharing options...
Alex C. Posted July 24, 2010 Share Posted July 24, 2010 From the BBC article: Page 5 of report he is commenting on: http://www.statistics.gov.uk/pdfdir/gdp0710.pdf Quarter-on-quarter contribution to growth Agriculture 0.0 Total Production 0.1 Manufacturing 0.2 Extraction 0.0 Utilities 0.0 Construction 0.4 Total Services 0.7 Distribution, hotels & restaurants 0.1 Transport, storage & communications -0.1 Business services & finance 0.4 Government & other 0.2 The numbers all add up to 2, so Govt. and other accounts for 10% of growth. Furthermore Govt spending will have contributed to most other areas in particular Construction. Our Chancellor is either a liar or he can't do his maths. However you look at it, it doesn't do much for any confidence in him does it? 10% of the total is 0.1% (or just over) of the 1.1% growth? Link to comment Share on other sites More sharing options...
Wildcat Posted July 24, 2010 Share Posted July 24, 2010 10% of the total is 0.1% (or just over) of the 1.1% growth? He said "0.1% of the growth in the second quarter", not "10% of the growth in the second quarter". It makes him out by a factor of a hundred, even when you accept his own false exclusion of public spending elsewhere in the economy. Construction for example you can see private investment is low and not recovering: http://www.statistics.gov.uk/pdfdir/oec0710.pdf Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.