UK economy shrinks for second month in a row
https://news.sky.com/story/money-live-consumer-personal-finance-latest-newsletter-sky-news-13040934?postid=9862595#liveblog-body
Posted by sjw_7
UK economy shrinks for second month in a row
https://news.sky.com/story/money-live-consumer-personal-finance-latest-newsletter-sky-news-13040934?postid=9862595#liveblog-body
Posted by sjw_7
23 Comments
It really feels like we’re running on empty.
We need to rejoin the single market to start seeing GDP go up and borrowing costs come down.
Trump will no doubt threaten us with more tariffs, but he’s going to do that at some point anyway.
The GDP has actually trending upwards since 2009 except for a dip during COVID if you zoom out, but is it doing us any good?
1. Increase tax, it sucks but we don’t pay enough for the quality of public services we expect.
2. Reform the benefits system, including making winter fuel benefit means tested. I appreciate this will be painful, but the simple fact is we need to get more people working and contributing to the economy.
3. Remove the triple lock pension.
4. Invest the freed capital into infrastructure projects THROUGHOUT the UK, not just south of Watford.
5. Decade of renewal.
who would have thought throwing money at such productive areas such as state benefits and a bloated NHS – and also taxing business to death at the same time – would have ignited huge growth by now. How odd?
The monthly figures reported from the ONS are always well within the margin of error. The figures are just not that accurate, and it’s not useful breathlessly reporting it month by month.
So many high street shops closing down including but certainly not limited to big names. Nothing is stopping the rot and the government has no interest in changing anything about the current system. This as per the New Statesman profiler on Starmer.
https://youtu.be/DfjlTz6M-p0?si=PWDSpFL4D-AWkon5
I’m not worried. The old guy still has is £80k blue Jag and I’ve just seen a Rolls Royce on the hugh street this morning.
The inevitable result of continued anti business policies from a government almost uniquely unqualified to understand the private sector.
It is only going to get worse.
Can’t wait for the roll out of ‘unexpectedly’ top adorn all the headlines, when it appears everyone bar the ‘experts’ very much expected it.
Here comes all the doomer armchair economists 😎 prepare yourselves!
I don’t care about the economy growing or shrinking. That seems to just relate to how much money is in rich people’s pockets. We’ve had years of growth yet most people are poorer and struggling to pay for basic things.
Increase how much national insurance each business has to pay per employee and we are shocked when the economy contracts.
The UK is littered with regulatory red tape and bureaucracy, until we start rolling back on these then businesses aren’t encouraged to invest.
Shrinks by 0.1% and has gone up on average over the last 3 months – which given how crazy the world is right now with Trump uncertainty and conflicts isn’t actually too bad – seems the promised disaster from NI contributions rising didn’t happen either? How many is it now the right wing press has got wrong
0.1% is a rounding error. A lot of the time in the following months the data is revised and moves by 0.1-0.2%.
Oh no, we didn’t grow every month forever. Because that’s totally sustainable.
I’m wondering if you extract some of the money from the 1% that would help
1 more month and then we get an Official Recession, boys!
We were promised change, and we got it. But going backwards instead.
Let’s face it, Reeves has failed and there’s no way back for her. She’ll end up increasing taxes and cutting spending. That’s the opposite of what we need.
The Britain is cooked due to Brexit that was voted for by people who were conned by delusions of the lost empire.
Surprising given Rach’s extensive experience in accounts
I swear there was an article about a week or so ago saying we experienced growth. Dafaq is the point in this back and forth?
One more month and we will be officially in a recession.
It’s getting tight out here.
I work in bids/BD and in good times we would have had about 5 to 6 ITTs by mid year .
Nothing so far YTD.
We are already in recession heading towards another economic disaster. Save up! This will be worse than 07