Why do you think the economy is shrinking (still)? IMF forecast is for 2.5% growth in the UK.
Well growth is lower than forecast
I prefer the IMF in the Mission Impossible films. They save countries, not fuck them up.
Not shrinking though
“Growth” in and of itself is misleading. You can ramp your GDP up massively if you start selling things off to the private sector. Is that a good thing? The “growth” there is just growth in revenue, helped by not having things like “democracy” to worry about.
Given the zeal and level of privatisation, and the costs associated with turning public sector businesses into private sector ones, you’d expect “growth” to be through the roof.
Oh dear. Do we have an anti growth agenda now? Growth is a good thing. Yes, less than forecast a while back, but still a healthy level and ahead of many other developed nations. And definitely not shrinking. UK grown every quarter since 2013. Employment at an all time high. Sorry doom mongers but while its not perfect it is the envy of many countries.
Where is the growth and in what jobs?
Nah, more a recognition of what growth is and that as defined, it’s not always desirable.
The US system has long had the exorbitant costs of healthcare and maintaining the world’s highest prison population factor into its GDP. A sane system would actively be trying to reduce costs incorporated with both.
Originally posted by @Barry-Sanchez
Originally posted by @Bucks
Oh dear. Do we have an anti growth agenda now? Growth is a good thing. Yes, less than forecast a while back, but still a healthy level and ahead of many other developed nations. And definitely not shrinking. UK grown every quarter since 2013. Employment at an all time high. Sorry doom mongers but while its not perfect it is the envy of many countries.
Where is the growth and in what jobs?
You could read the link you posted maybe. Or others.
To go from 0.7 second quarter to 0.5 growth third quarter is shrinking.
Originally posted by @Barry-Sanchez
To go from 0.7 second quarter to 0.5 growth third quarter is shrinking.
You said the economy was shrinking not the growth rate.
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Its less than it was so its shrinking.
Growth in low paid zero hours non unionised jobs and shrinkage in skill manufacturing jobs? Just a guess.
You said the economy was shrinking not the construction and manufacturing sectors
It is, our growth has fallen and in turn our economy is shrinking along with our forecasts.
Originally posted by @Barry-Sanchez
It is, our growth has fallen and in turn our economy is shrinking along with our forecasts.
Nope - the ecomony is growing at a lesser rate ergo not shrinking.
Shrinking 0.7 to 0.5 is less so growth and the economy are shrinking.
Economic Growth for the under 10’s:
Total economy growth since quarter 1 is just over 1.3%. Economy has grown in both quarters. It is not shrinking.
Its like SFC is leading 5-0 at half time and then the other team get one in the second half. We are still leading, even if JWP scored an own goal.
How long can this wind up go on for…