The UK is experiencing a slower economic recovery than 23 of the 33 advanced economies monitored by the International Monetary Fund (IMF) and is lagging behind all but one G7 country on exports, wage growth and manufacturing, according to new analysis published today by the TUC.
George Osborne fails on his own terms.
That George Osborne should hail the loss of the UK’s AAA credit rating as evidence that yet more of the same cuts and austerity are needed is an alarming example of Orwellian “doublethink.” What is needed is Keynesian government pump priming, to fill the potholes, build houses, improve local rail networks (not HS2), invest in renewable energy sources etc, and so create employment, restore growth, increase tax revenues, eliminate the current deficit and bequeath to future generations a spanking economic infrastructure and a healthy society.
Real earnings have declined since 2009 and are at the same level as 2002.
The Bank of England is expected to downgrade its growth forecasts today while warning of more financial pain to come. As the graph shows, the growth trend in the UK economy has been downward since around the third quarter oftest
The IFS produced a new report today examining why British workers are getting less productive.
Following Friday’s poor growth figures, Ed Miliband went after David Cameron on his failing economic record at today’s Prime Minister’s Questions.
Chancellor George Osborne is the ultimate political swindler, taking credit for when the GDP figures are good, not taking the blame when they’re bad.
With today’s GDP figures confirming this is the longest depression in modern UK history, IPPR’s Spencer Thompson asks why the economy is still creating jobs.
Gross Domestic Product shrank 0.3 per cent in the final quarter of 2012 – with the economy flatlining through the whole of 2012.
