Warning UK set for five years of lost economic growth

[ICU Kid]

On 8/10/2023 at 10:02 AM, Chomper Higgot said:

So you are not yourself keeping up on the policy positions of the major UK UK political parties.

 

You should try, it might improve your contributions.

 

Yes but what is the 'gaping gap' between the LIEbour & CONservatives  that you're on about ???

If u can't just admit there isn't any difference.

 

Soz mate but you come across as a typical hair brained virtue signalling socialist.

 

Taxes and inflation are at their highest levels for decades and you basically want to vote for more free <> for yourself and all comers. AMAZING!

 

Net zero for imaginary man made global warming is just another <>ing tax on citizens - as is the ULEZ BS.

 

Mass (g)immigration from the 3rd world just causes more problems - most grown ups should know that and not fall for tory donor BS.

 

Maybe Labour could send out a free money printer for every household???

- would that work for you?

 

 

[Chomper Higgot]

13 minutes ago, youreavinalaff said:

Oh. I see.

 

Your comment was an attempt deflection. You needed to do that to deflect from the fact I was proving predictions on the UK economy to be wrong.

 

I believe in your little world it's also known as "whataboutary".

So how’s the UK economy going where you are?

 

Where I am people are struggling, and it’s not getting any better.

 

[youreavinalaff]

1 minute ago, Chomper Higgot said:

So how’s the UK economy going where you are?

 

Where I am people are struggling, and it’s not getting any better.

 

It's not in recession, as was predicted.

 

That was my point prior to your attempted deflection.

[candide]

13 hours ago, youreavinalaff said:

Please show me the link to prove the prediction of UK recession in 2022 happened. Then I will give credit to predictions.

The topic is not about a previous IMF forecast which has been revised.

It's about 4 years already lost (fact), and likely one more year (which means a growth rate of around 0.5%).

[youreavinalaff]

29 minutes ago, candide said:

The topic is not about a previous IMF forecast which has been revised.

It's about 4 years already lost (fact), and likely one more year (which means a growth rate of around 0.5%).

No. The topic is about a prediction there will be 5 years of lost growth.

 

There was a prediction that UK would fall into recession in 2022. That was wrong

 

See?

[candide]

14 minutes ago, youreavinalaff said:

No. The topic is about a prediction there will be 5 years of lost growth.

 

There was a prediction that UK would fall into recession in 2022. That was wrong

 

See?

You obviously did not read the OP. 5 years of lost growth, including the past four years, and the year to come (2024)

 

"The amount of money made by the UK economy, its gross domestic product - or all the goods and services produced - is not forecast to return to 2019 levels until the second half of next year, Niesr forecast.

This weak "stuttering growth" over a five year period has widened the gap between the wealthier and poorer parts of the country, the think tank said."

 

More details about it by the Institute cited

"Despite continuing to expect the United Kingdom to steer clear of a recession in 2023, GDP is projected to grow barely by 0.4 per cent this year and by 0.3 per cent in 2024, with the outlook remaining highly uncertain. There are, in fact, even chances that GDP growth will contract by the end of 2023 and a roughly 60 per cent risk of a recession at the end of 2024."

https://www.niesr.ac.uk/publications/uk-heading-towards-five-years-lost-economic-growth?type=uk-economic-outlook

 

Again, a past prediction from the IMF has nothing to do with the OP.

[youreavinalaff]

12 minutes ago, candide said:

You obviously did not read the OP. 5 years of lost growth, including the past four years, and the year to come (2024)

 

"The amount of money made by the UK economy, its gross domestic product - or all the goods and services produced - is not forecast to return to 2019 levels until the second half of next year, Niesr forecast.

This weak "stuttering growth" over a five year period has widened the gap between the wealthier and poorer parts of the country, the think tank said."

 

More details about it by the Institute cited

"Despite continuing to expect the United Kingdom to steer clear of a recession in 2023, GDP is projected to grow barely by 0.4 per cent this year and by 0.3 per cent in 2024, with the outlook remaining highly uncertain. There are, in fact, even chances that GDP growth will contract by the end of 2023 and a roughly 60 per cent risk of a recession at the end of 2024."

https://www.niesr.ac.uk/publications/uk-heading-towards-five-years-lost-economic-growth?type=uk-economic-outlook

 

Again, a past prediction from the IMF has nothing to do with the OP.

Nice swerve. ????????

[candide]

1 hour ago, youreavinalaff said:

Nice swerve. ????????

Lol! So you still have not read it  right? Just had a look at the title?

Where is there a five year forecast in the OP or in the report?

[youreavinalaff]

4 minutes ago, candide said:

Lol! So you still have not read it  right? Just had a look at the title?

Where is there a five year forecast in the OP or in the report?

There is a prediction. Simple.

 

It doesn't matter if it's a 5 year prediction from now or a prediction next year will be the 5th year. It's still a prediction.

 

[candide]

3 minutes ago, youreavinalaff said:

There is a prediction. Simple.

 

It doesn't matter if it's a 5 year prediction from now or a prediction next year will be the 5th year. It's still a prediction.

 

It does matter. Four years have been lost already.

At best UK may ultimately reach pre-pandemic level after 6 month rather than one year. So 4 and half years or 5 years, it doesn't make much difference.

 

What does matter is that it's a lot of lost years

[candide]

A good news, UK GDP is now only 0.2% below pre-pandemic level, so it is possible this level will be reached earlier than expected by the NIESR.

 

"The first quarterly estimate of UK real gross domestic product (GDP) shows that the economy increased by 0.2% in Quarter 2 (Apr to June) 2023 (Figure 1). This follows growth of 0.1% in the previous quarter. The level of quarterly GDP in Quarter 2 2023 is now 0.2% below its pre-coronavirus (COVID-19) level in Quarter 4 (Oct to Dec) 2019."

https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/apriltojune2023

[placeholder]

On 8/10/2023 at 2:46 PM, ICU Kid said:

Yes but what is the 'gaping gap' between the LIEbour & CONservatives  that you're on about ???

If u can't just admit there isn't any difference.

 

Soz mate but you come across as a typical hair brained virtue signalling socialist.

 

Taxes and inflation are at their highest levels for decades and you basically want to vote for more free <> for yourself and all comers. AMAZING!

 

Net zero for imaginary man made global warming is just another <>ing tax on citizens - as is the ULEZ BS.

 

Mass (g)immigration from the 3rd world just causes more problems - most grown ups should know that and not fall for tory donor BS.

 

Maybe Labour could send out a free money printer for every household???

- would that work for you?

 

While most of the stuff you posted can't be fact checked because it's either based on conspiracy theory or just opinions, your assertion about tax rates being at their highest in decades  most certainly can be checked. And it is nonsense:

Here is a historical graph of corporate tax rates in the UK

https://tradingeconomics.com/united-kingdom/corporate-tax-rate

 

And here are income tax rates:

https://tradingeconomics.com/united-kingdom/personal-income-tax-rate

 

 

[placeholder]

5 hours ago, placeholder said:

While most of the stuff you posted can't be fact checked because it's either based on conspiracy theory or just opinions, your assertion about tax rates being at their highest in decades  most certainly can be checked. And it is nonsense:

Here is a historical graph of corporate tax rates in the UK

https://tradingeconomics.com/united-kingdom/corporate-tax-rate

 

And here are income tax rates:

https://tradingeconomics.com/united-kingdom/personal-income-tax-rate

 

 

 

I somehow lost the label for the second graph. That's corporate tax. It's actually at the lowest level it's been for decades. It shows a sharp decline. Here's a more inclusive graph that shows how steep the drop has been.

 

https://tradingeconomics.com/united-kingdom/corporate-tax-rate