Economic update, December 2011 – UK teeters on brink of recession
IPPR’s senior economist Tony Dolphin looks at the key economic indicators and reviews the state of the economy in his latest economic update for Left Foot Forward.
Growth
The perversity of Dan Hannan and the “there are no cuts” brigade
Daniel Hannan and that ‘there are no public sector cuts’ brigade are being perverse. By their framing, we could end up much poorer & they could declare victory.
Osborne proved the doommongers wrong – the economy is even worse than we predicted
The economy has done even worse than Osborne’s critics on the left feared – and now we all have to pay the price.
How Osborne’s locked in to making the bad times worse
If the government misses its targets for growth and spending, it will be forced to cut further – making the bad times worse. Oh Goodee!
OBR confirm Osborne will borrow more than the Darling projection
In his Autumn statement, George Osborne confirmed that the Office for Budget Responsibility (OBR) now projects that the government will borrow more than Alistair Darling was projected to at the time of the last election. This puts the OBR intest
Whatever Osborne’s growth forecasts today, the reality is probably worse
Today’s growth and borrowing forecasts are likely to be grim – they are just as likely to be over optimistic.
UK growth – bottom of the table, wallowing with the PIGS
UK Growth is miserable and about to dive into recession according to the OECD. However, the government can’t blame it all on external factors – we’re doing worse than most OECD countries.
Miliband attacks Osborne’s “dangerous gamble” and “catastrophic mistakes” on economy
Speaking ahead of George Osborne’s autumn statement, Ed Miliband launched a scathing attack on the chancellor’s economic record, competency and strategy today.
We’ve got the wrong sort of growth – a fall in real GDP now looks more likely
The outlook for the final quarter of the year is gloomy; a fall in real GDP now looks the most likely outcome, writes IPPR chief economist Tony Dolphin.
Osborne should change course next Tuesday, but he won’t
Those hoping for a change of course when the chancellor delivers his Autumn Statement will be disappointed, write IPPR’s Tony Dolphin and Adam Lent.